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 QuikTrip, anet-leased property located in Cumming, Georgia, according to John Horowitz, first vice president and division manager in the firm’s Manhattan office. The asset sold for $3,000,000.
“Our group is proud to have assisted a repeat 1031 exchange client in seamlessly acquiring this low-rent, corporately guaranteed asset which we successfully vetted and closed prior to the expiration of the client’s 45-day identification period,” said Christopher Pappas, senior associate.The buyer, a limited liability company, was secured and represented by Christopher Pappas and Michael A. Cardone, investments specialists in Marcus & Millichap’s Manhattan office. John Leonard, broker, in Georgia assisted in closing this transaction.
The QuikTrip is located at 3650 Browns Bridge Road. The property is located offGeorgia 400 and is across from the major retailer Wal-Mart and in close proximity to Kroger, Publix and Suwanee Mountain Preserve.
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.
