Drinkwater and Richard of Marcus & Millichap arrange $3.05 million sale; 7,355 s/f three tenant strip center - 650 Troy Schenectady Road

Laurie Ann Drinkwater, CCIM and Seth Richard have sold a Verizon Wireless and Dunkin Donuts Strip Center to a New York based investor. The asset commanded a selling price of $3.05 million. Drinkwater, CCIM from Marcus & Millichap's Boston office, and Richard, from the firm's Manhattan office had the exclusive listing to market the property on behalf of the New York based seller and represented the buyer, a New York investor. Verizon Wireless and Dunkin Donuts Strip Center is located at 650 Troy Schenectady Rd. The subject property is a 7,355 s/f three tenant strip center situated on 1.82 acres along Rte. 7. The three tenants are comprised of a corporate Verizon Wireless store, a Dunkin Donut's with drive-thru and a 3 Stone Dental clinic. The property is accessed along NY State Rte. 7 and is immediately off of Exit 6 of I-87. With over 1,300 investment professionals located throughout the U.S. and Canada, Marcus & Millichap is one of the leading specialists in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.