Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Dollar General, an 8,000-square foot net-leased property located in Lumber City, GA, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $278,000.
Daniel Hurd, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Russell Malayery, CCIM and Drew Hines, investment specialists in Marcus & Millichap’s Atlanta office. Regional Manager/Broker, Michael Fasano, assisted in closing this transaction.
Dollar General is located at 3276 E Golden Isles Hwy in Lumber City, GA. The tenant operates under a double net lease agreement and recently exercised a five year renewal option which demonstrated their continued commitment to this location.
“We were able to generate multiple offers throughout the marketing period and ultimately collaborated with a Marcus & Millichap agent in our Atlanta office to source an out of area buyer. It is no surprise to me that the Buyer came from out of area, as is the case in so many of our net lease transactions”, said Hurd.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 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 over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company 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