Marcus & Millichap Real Estate Investment Services has completed the sale of 7-Eleven (New York Metro), a 2,964 s/f net leased property, according to J.D. Parker, first vice president - regional manager of the firm's Manhattan office. The asset commanded a sales price of $3 million.
Preet Sabharwal, a senior associate, and Britt Raymond, 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. The buyer, a private investor, was also secured and represented by Sabharwal and Raymond.
7-Eleven is located at 175 West Sunrise Hwy. "In this transaction, Marcus & Millichap was able to create a competitive market within a short period of time through relationships with key players in the market," said Sabharwal, "As a result; we received a sale price offer after having the property on the market for 10 days."