Marcus & Millichap Announces the Sale of Garcia’s Mexican Restaurant, a 6,000-Square-Foot Net-Leased Property in Glendale, Arizona

GLENDALE, Ariz., January 24, 2022 - 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 Garcia's Mexican Restaurant, a 6,000-square-foot net-leased property located in Glendale, Arizona. According to Ryan Sarbinoff, regional manager of the firm's Phoenix office, the asset sold for $3,398,500.

Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap's Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Garcia's Mexican Restaurant is located at 5695 West Bell Road in Glendale, Arizona. Built in 1994, the restaurant is situated along the dense Bell Road retail corridor along with Walmart, Fry's Marketplace, Living Spaces, Target and more. Outparceled to Sprouts Farmers Market, the asset is down the road from Arrowhead Towne Center, the highest-volume regional mall in Arizona which hosts over 170 brands and restaurants. The subject property is accessible to 355,195 residents within a five-mile radius with an average household income exceeding $94,000 annually. The tenant owns and operates over eight Garcia's locations.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.