News:
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."
Tags:
Brokerage
MORE FROM Brokerage
United Properties Corp. expands Wisconsin and Illinois retail presence adding 200,000 s/f
West Allis, WI United Properties Corp. completed two retail acquisitions totaling $27.4 million across Illinois and Wisconsin, adding 205,000 s/f of shopping center space to its portfolio
Quick Hits
Columns and Thought Leadership
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)