Marcus & Millichap Announces the Sale of Wendy's, a 3,306-Square-Foot Net-Leased Property in Chelsea, Alabama
March 09, 2023
CHELSEA, Alabama, March 9, 2023 - 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 Wendy's, a 3,306-square-foot net-leased property located in Chelsea, Alabama. The asset sold for $1,292,308.
Jason Fefer, Rob Narchi and Tyler Bindi, investment specialists in Marcus & Millichap's Los Angeles office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Suzanne Sharbek, Christopher Jackson, Craig Fuller, Erin E. Patton and Scott Wiles, investment specialists in Marcus & Millichap's Columbus and Cleveland offices. Eddie Greenhalgh, Alabama Broker of Record, assisted in closing this transaction.
Wendy's is located at 16056 US-280 in Chelsea, Alabama. The property had 10.7 years remaining on an absolute triple-net lease. It is located across the street from a high trafficked Walmart Supercenter and nearby Publix, Winn Dixie, Dollar Tree, Sherwin Williams, Walgreens, Advance Auto and many more retailers. The buyer was in a 1031-exchange and was able to secure the deal at a favorable cap-rate with a national tenant and long lease term. It was an all-cash transaction that was able to get done in just 19 days from contact to close.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2022, the Company had 1,904 investment sales and financing professionals in 81 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 our clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 09 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2023 17:44:05 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
