Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 9,997-square-foot retail property tenanted by Dollar Tree in Mauldin, S.C. The asset sold for $2.6 million, according to Benjamin Yelm, regional manager of the firm’s Charleston office.
Ani Paulson, an investment specialist in Marcus & Millichap’s Charleston office, had the exclusive listing to market the property on behalf of the seller, a private investor. Paulson also secured and represented the buyer, another private investor.
The subject property is located at 601 N Main St. in Mauldin, S.C., which is within the Greenville metropolitan statistical area. It has a double-net lease with Dollar Tree, its tenant, with over eight years remaining on the initial term. With this lease, the landlord has minimal responsibility for the property’s roof and structure.
“We are exclusively representing the seller on a number of newly constructed development sites in multiple Southeastern states,” said Paulson. “Many buyers find single-tenant properties such as this one very attractive due to their strong credit ratings on S&P, long lease terms with minimal landlord responsibilities, and strong corporate guarantees. Our buyer was in a 1031 exchange looking for a passive investment, so this deal was a perfect opportunity for him.”
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.
