Marcus & Millichap brokers $2.04 million sale of net-leased Filiberto’s restaurant in Arizona
MMI•Marcus & Millichap brokered the sale of a 3,407-square-foot Filiberto’s restaurant in Williams, Arizona, for $2.04 million. The property has a 20-year absolute triple-net lease with 10% rent increases every five years.
1. Sale and lease terms
Marcus & Millichap brokered the $2.04 million sale of a 3,407-square-foot Filiberto’s restaurant at 888 N. Grand Canyon Blvd. in Williams, Arizona. The property is near Interstate 40 and historic Route 66 and carries a 20-year absolute triple-net lease with 10% rent increases every five years.
2. Buyer’s exchange
The buyer, a decedent’s trust, completed a 1031 exchange after selling a long-held California apartment investment.
