Press Releases
Marcus & Millichap Arranges $6.2M Sale of Net-Leased Restaurant Property in Phoenix
April 09, 2025
PHOENIX, April 9, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a Trevor’s, a triple net leased restaurant property located in Phoenix, Arizona. The property sold for $6,199,500.
“This transaction is especially notable because the tenant now controls the real estate, aligning their business and property interests for long-term stability,” said Mark Ruble, executive managing director. “Located in one of Phoenix’s strongest retail corridors, this site benefits from the significant redevelopment of Paradise Valley Mall, which continues to drive growth and value throughout the surrounding area.”
Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a Delaware limited liability company.
Trevor’s is located at 12820 N. Tatum Blvd. on 1.63 acres and was built in 2024. The tenant completed a high-end interior build-out featuring a restaurant, cigar bar, golf simulator bays and a full liquor store. The property is part of the 92-acre PV Mall redevelopment plan and is secured by a 10-year absolute triple-net lease. The surrounding area boasts an average household income exceeding $130,000 within a five-mile radius.
“This transaction is especially notable because the tenant now controls the real estate, aligning their business and property interests for long-term stability,” said Mark Ruble, executive managing director. “Located in one of Phoenix’s strongest retail corridors, this site benefits from the significant redevelopment of Paradise Valley Mall, which continues to drive growth and value throughout the surrounding area.”
Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a Delaware limited liability company.
Trevor’s is located at 12820 N. Tatum Blvd. on 1.63 acres and was built in 2024. The tenant completed a high-end interior build-out featuring a restaurant, cigar bar, golf simulator bays and a full liquor store. The property is part of the 92-acre PV Mall redevelopment plan and is secured by a 10-year absolute triple-net lease. The surrounding area boasts an average household income exceeding $130,000 within a five-mile radius.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
