Kunofsky and Kauffman of Marcus & Millichap complete $2.05 million sale; 2,132 s/f net-leased KFC/Taco Bell located at 200 S. Caroline Street

Marcus & Millichap Real Estate Investment Services, one of the nation's largest real estate investment service firms, has arranged the sale of KFC/Taco Bell, a 2,132 s/f net-leased property, according to J.D. Parker, first vice president - regional manager of the firm's Manhattan office. The asset sold for $2.05 million. Glen Kunofsky, executive vice president investments, and Judson Kauffman, an investment associate, in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor. Kunofsky and Kauffman also secured and represented the buyer, a private investor. KFC/Taco Bell is located at 200 South Caroline St. At close of escrow, the tenant entered into a sale leaseback with a brand new 20-year absolute triple-net lease. The building is comprised of 2,132 s/f and sits on 0.70 acres. "This was a top-performing location for the tenant and system wide. We were able to close in under 30 days with a 1031-exchange buyer, meeting our seller's goals," said Kauffman. "We capitalized on market demand for new, quality sale-leaseback investments and were able to execute at an above average price point for KFC," said Kunofsky.