Northville, MIch. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the acquisition of a single-tenant building in Northville, a northwest suburb of Detroit. Built in 2015, the 28,780-square-foot property is occupied by Fresh Thyme Market. Chad O’Connor of MMCC secured the financing on behalf of the undisclosed borrower. The 10-year fixed-rate loan carries a 30-year amortization schedule.
Clermont, Fla. — A single-tenant restaurant property located in Clermont, approximately 25 miles west of Orlando, has been sold for $3.3 million. The building is occupied by Zaxby’s on a net-lease basis. Dominic Sulo and Benjamin Bach of Marcus & Millichap arranged the 15-year sale-leaseback on behalf of the seller, an undisclosed limited liability company. The team also secured and represented the buyer, a Texas-based LLC. Ryan Nee, Florida broker of record, assisted in closing the transaction.
Littleton, Colo. — Blue West Capital has arranged the acquisition of Shops at Belleview, a net-leased retail building located in Littleton, approximately 10 miles south of Denver. A Hawaii-based 1031 exchange investor acquired the property from an undisclosed seller for $4 million. Shops at Belleview comprises two structures totaling 7,359 square feet and was fully occupied at the time of sale. Tenants include Black Rock Coffee, WingStop, Marco’s Pizza, Metro by T-Mobile and Trinity Nails & Spa. Bryce McNeely of Blue West Capital represented the buyer in the deal.
Meridian, Idaho — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed 4,200-square-foot retail building located in Meridian, roughly 11 miles west of Boise. The single-tenant property is occupied by Heartland Dental, operating as Dental Care at Verona, on a triple-net-lease basis. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the buyer, a private investor, in the 1031 exchange transaction. Andrea Nilson of Cushman & Wakefield represented the seller and developer, Northwest Development Group.
Malden, Mo. — Marcus & Millichap has brokered the sale of a 43,770-square-foot retail property occupied by Walmart in Malden, which is part of the Missouri Bootheel in the southeast portion of the state. A limited liability company purchased the net-leased property for $2.9 million in an all-cash transaction. Walmart has five years remaining on its lease. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company and private investor, and secured the buyer in the transaction. David Saverin, Missouri …
Tysons, Va. — Avison Young has brokered the sale of a 32,857-square-foot, single-tenant retail property located in Tysons, a western suburb of Washington, D.C. An institutional buyer acquired the building for $20.4 million. Jonathan Hipp, Richard Murphy and Timothy Farrell of Avison Young represented the seller, an entity doing business as Qualified Opportunity Fund LLC. REI Coop occupies the property on a net-lease basis.
Miami — SRS Real Estate Partners’ National Net Lease Group (NNLG) has facilitated the $14.4 million sale of a single-tenant retail property located in Miami. Comprising 16,285 square feet, the property is occupied by the seller, Walgreens, which has signed a new 15-year, corporate guaranteed, triple-net lease. Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.
Owensboro, Ky. — Marcus & Millichap has arranged the sale of a single-tenant 2,584-square-foot property located in Owensboro. Dan Yozwiak and Darpan Patel represented the undisclosed buyer in the $2.5 million transaction. Freddy’s Frozen Custard & Steakburgers occupies the property, which was renovated in 2018, on a net-lease basis and recently committed to a 15-year lease with renewal options. Colby Haugness, Kentucky broker of record, assisted in closing the sale.
Elgin and Orland Park, Ill. — Marcus & Millichap has arranged the sale of two retail centers located in the Chicago suburbs of Orland Park and Elgin in transactions totaling $27 million. The first property, located in Orland Park, sold for $17.6 million. The center spans 20,732 square feet and includes three freestanding, single-tenant net-leased buildings and one multi-tenant building. The property was fully leased at the time of sale to tenants including BJ’s Brewhouse, Raising Cane’s and Smashburger. The second property, Galleria of Elgin, features two buildings totaling 24,000 …
New Hyde Park and New York City, N.Y. — Legacy Realty Group Advisors LLC, a commercial real estate brokerage with offices in New York, has brokered the sale of 146 stores in the Southeast leased to Dollar General. The seller, a privately held real estate developer, sold the portfolio to the buyer, a net-lease REIT, for approximately $200 million. Both parties requested anonymity. Jacob Baruch and Daniel Baruch of Legacy Realty Group represented both the buyer and seller in the off-market transaction.
