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Howell, N.J.— Marcus & Millichap has arranged the $3.1 million sale of a net-leased Texas Roadhouse restaurant located at 5309 US Highway 9 in Howell.
Karly Iacono of Marcus & Millichap’s National Retail Group represented the seller, an undisclosed developer, in the transaction. Marcus & Millichap also represented the buyer, a private client executing a 1031 exchange. The property is subject to a 15-year ground lease with Texas Roadhouse. Nearby retailers include Lowe’s, Target, LA Fitness, ShopRite and Hobby Lobby.