Marcus & Millichap ARRANGES THE SALE OF a 6,400-SQUARE FOOT NET-LEASED PROPERTY
CEDAR HILL, TEXAS, September 18, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Hooters, a 6,400-square foot net-leased property located in Cedar Hill, Texas, according to Tim A. Speck, First Vice President/District Manager of the firm’s Dallas office.
The buyer, a private investor, was procured and represented by Ryan Wolf, Senior Associate and Vincent Knipp, Senior Vice President Investments in Marcus & Millichap’s Dallas office. Financing was also obtained by Farhan Kabani, Senior Vice President of Capital Markets and Chris Parker, Director in the firm’s Dallas finance office.
“The buyer a California investor, engaged Marcus & Millichap to secure a replacement property for a 1031-exchange, said Wolf. “The property offered a stable return, with a long-term triple-net lease.”
Hooters is located on the southeast quadrant of Uptown Boulevard and Walmart Way in Cedar Hill, Texas.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com