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Brokerage
Posted: July 29, 2013
Stoehrer and Lane of Marcus & Millichap rep seller in $900,000 sale
Marcus & Millichap Real Estate Investment Services has brokered the sale of a McDonald's, a 2,950 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 $900,000.
Steven Stoehrer, a senior associate, and Michael Lane, an investment associate, both from Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Michael Lombardi, a senior associate in Marcus & Millichap's New Jersey office.
McDonald's is located at 1600 Boston Rd. "The property's urban infill location and the quality of the tenant attracted multiple buyers from around the country," said Stoehrer, "We were able to find a local buyer who was in an exchange to purchase the property."
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