French and Reddy Jr. of Marcus & Millichap secure $1.575 million sale

Marcus & Millichap, one of the leading commercial real estate investment services firms with offices throughout the United States and Canada, arranged the sale of Denny's, a 4,947 s/f net-leased property, according to J.D. Parker, regional manager of the firm's Westchester office. The asset sold for $1.575 million. Joseph French and Roger Reddy Jr., both in Marcus & Millichap's Westchester office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a developer, was secured and represented by French and Reddy Jr. Denny's is located at 3414 Erie Blvd. E. "The last time this property traded was at an 11.79% cap-rate. The closing cap-rate for this deal was a 6.35% cap-rate," said Reddy. "Therefore, we believe that the single tenant net-leased market is the hottest that it has ever been and buyers have demonstrated that they are willing to offer more aggressive cap-rates for these types of retail real estate assets."

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Reynolds, Davila and Loch of Investment Property Realty Group close $3.735 million sale of 216, 218, 220 East 179th St.

Bronx, NY Investment Property Realty Group (IPRG) closed the sale of 216, 218, 220 East 179th St., a development site located in the Mount Hope section of the city, for $3.735 million.

Investment Property Realty Group closes $2.9 million sale of 42 Richardson St.

IPRG closes $2.9m sale of 42 Richardson St.

Investment Property Realty Group closes $9.4 million sale of 73 Warren St.

IPRG closes $9.4m sale of 73 Warren St.

Investment Property Realty Group closes $1.7 million sale of 491 East 166th St.

IPRG closes $1.7m sale of 491 East 166th St.

Investment Property Realty Group closes $3 million sale of 4,350 s/f mixed-use building at 709 Fulton St.

IPRG closes $3m sale of mixed-use building at 709 Fulton St.

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