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Posted: May 7, 2019
Outside the Region: Delisle of Island Associates closes $3.15 million sale with Marcus & Millichap
Loganville, GA Roger Delisle of Island Associates Real Estate Inc. has negotiated and closed the purchase and sale of the property located at 185 US Highway 78, for a purchase price of $3.15 million. The site is ground leased to Panera Bread and has been developed with a 4500 s/f Panera Bread store with a drive-thru. The store opened for business in the fall of 2018. The Panera lease has a base term of 15 years plus options, and is a NNN ground lease. The seller was PV-PB Athens LLC, who was the developer of the site for Panera Bread. The purchaser was represented by Island Associates and the seller was represented by Marcus & Millichap.
The purchaser is a real estate owner and operator who owns properties throughout the east coast, and who purchased this property as a replacement property under a 1031 exchange.
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