Marcus & Millichap Negotiates $9M Sale of Walgreens-Occupied Retail Asset in Tempe, Arizona

Walgreens occupies the retail building at 2000 S. Mill Ave. in Tempe, Ariz.

TEMPE, ARIZ. — Marcus & Millichap has arranged the sale of a retail property located at 2000 S. Mill Ave. in Tempe. A limited liability company sold the property to an undisclosed buyer for $9 million.

Walgreens occupies the building on an absolute triple-net corporate lease with 14 years remaining on the term. The property is located two miles from downtown Tempe and near to Arizona State University’s Tempe campus.

Mark Ruble, Chris Lind and Jamie Medress of Marcus & Millichap represented the seller in the deal.

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