Net-leased Starbucks sold in San Tan Valley for $2.62M

The Starbucks is at 40889 N. Ironwood Drive in San Tan Valley. Submitted photo)

Marcus and Millichap, a commercial real estate investment services firm, has announced the sale of Starbucks, a 2,400-square foot net-leased property at 40889 N.Ironwood Drive in San Tan Valley.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,620,000, according to a release.

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

The Starbucks is adjacent to a new Safeway-anchored shopping center and is visible to more than 30,350 vehicles per day along North Ironwood Road, according to the release.


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