Marcus & Millichap : Arranges the Sale of a 5,960-Square Foot Net-Leased Veterinary Property
January 23, 2023 at 07:30 pm EST
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Marcus & Millichap Arranges the Sale of a 5,960-Square Foot Net-Leased Veterinary Property
January 23, 2023
LYNNWOOD, WA, January 23, 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 a new 10-Year, Net-Leased, Veterinary Emergency Hospital, a 5,960-square foot net-leased property located in Lynnwood, WA, according to Joel Deis, regional manager of the firm's Seattle office. The asset sold for $4,100,000, setting a new record in price per square foot for veterinary properties of its kind in Snohomish County.
Stren Lea, John Marks, and Michael Horner, investment specialists in Marcus & Millichap's Seattle office, had the exclusive listing to market the property on behalf of the seller, a multi-beneficiary trust domiciled in Washington state. The buyers, private investors who paid all-cash, were represented by Matthew Hagen of Kidder Mathews.
The subject property is located at 4725 196th St SW in Lynnwood, WA and is an out parcel to a Fred Meyer anchored center. The 1996-built building is being substantially renovated into Veterinary Emergency Group's current 24-hour emergency animal hospital concept and will open for patients in mid-2023.
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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.
Marcus & Millichap Inc. published this content on 23 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 00:29:02 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.
MARCUS & MILLICHAP, INC. 
