Marcus & Millichap : Arranges the Sale of a Walgreens in Wichita for $5.15 Million
February 14, 2023 at 01:22 pm EST
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Marcus & Millichap Arranges the Sale of a Walgreens in Wichita for $5.15 Million
February 14, 2023
WICHITA, Kan., February 14, 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 Walgreens, a 14,820-square-foot net-leased property located in Wichita, Kansas, according to John Horowitz, first vice president and division manager based out of the firm's Manhattan office. The asset sold for $5,158,000.
"The sale of this Walgreens was truly a win-win in which the seller exited the asset for a profit and the buyer acquired a secure NNN pharmacy with increasing sales in a high-growth market", said Christopher Pappas. Pappas and Michael Cardone, investment specialists in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a New York corporation fulfilling a 1031-exchange, was secured, and represented by Michael Fusco, Michael Kook, Seth Glasser and Steven J. Siegel, investment specialists in Marcus & Millichap's Manhattan office. Colby Haugness, broker in Kansas assisted in closing this transaction.
The property is located at 13534 West Maple Street. The property is strategically located in a highly active retail node surrounded by a host of national retailers including Dillon's, Starbucks, Sonic, a recently built Sherwin Williams and a new fast-food development in progress. The asset is located in Auburn Hills, one of Wichita's most affluent neighborhoods.
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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 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 18:21:02 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. 
