Marcus & Millichap : Arranges the Sale of a 2,584-Square-Foot Net-Leased Property in Owensboro, Kentucky
January 05, 2023 at 11:08 pm IST
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Marcus & Millichap Arranges the Sale of a 2,584-Square-Foot Net-Leased Property in Owensboro, Kentucky
January 05, 2023
Owensboro, Kentucky, January 5, 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 Freddy's Frozen Custard & Steakburgers, a 2,584-square-foot net-leased property located in Owensboro, Kentucky, according to Grant Fitzgerald, regional manager of the firm's Columbus office. The asset sold for $2,476,000.
The buyer, a limited liability company, was secured and represented by Dan Yozwiak and Darpan Patel, investment specialists in Marcus & Millichap's Columbus and Tampa offices. Colby Haugness, Kentucky Broker of Record, assisted in closing this transaction. "Well located assets with long term leases and rental increases that out-pace inflation, still demand a premium even in a shifting market. This asset checks all the boxes." According to Dan Yozwiak, one of the lead agents on this deal.
Freddy's Frozen Custard & Steakburgers is located at 4641 Frederica Street in Owensboro, Kentucky. The property was renovated in 2018 and is subject to a brand new 15-year absolute net lease with renewal options. The lease is guaranteed by the third largest Freddy's franchisee and is located in a dense retail corridor.
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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 05 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2023 17:37:02 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. 
