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 Taco Bell a 2,813-square-foot net-leased property located in Moultrie, Georgia. The asset sold for $2,000,000.
Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was procured by McAlister Cleary, senior investment associate in the firm’s Phoenix office, Ruble and Lind. John Leonard, Georgia broker of record, assisted in closing this transaction. The deal includes 15 years remaining on an absolute triple-net lease with franchisee guaranty, annual rental increases and multiple renewal options.
Built in 2012, Taco Bell is located at 496 North Veterans Parkway in Moultrie, Georgia. Surrounded by national tenants like Home Depot, Lowe’s, Publix Super Market, Starbucks and many more, the asset has a shared ingress and egress with Subway and Waffle House. Visible to over 22,600 vehicles per day along Highway 319 North Veterans Parkway, the property is within two miles, or seven minutes driving, to Downtown Moultrie. Taco Bell is a 300+ unit franchisee with over 30 years of experience in the Southeast and Texas.
About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
