Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dollar Tree, an 8,050 square-foot net-leased property located in Kenly, NC, according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $1,000,000, which represented 97% of the list price.
Cole Skinner and Daniel Hurd, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. Broker, Benjamin Yelm, assisted in closing this transaction.
“We were able to generate a good amount of inquiries and activity, but at the end of the day, the short lease term remaining was a big concern and objection for the buyer pool. We stayed persistent with the market and didn’t give up on the deal. It felt good to get this one to the finish line for our client,” says Mr. Skinner
“This is another great example of our strategic marketing campaign yielding the highest results for our clients. We took on this exclusive listing assignment after another brokerage firm was unable to procure a buyer during their time on market. Thanks to our national platform, product type specialization, extensive database, access to buyers and willingness to work with all brokers across the country, we ultimately closed this transaction with an individual investor who is local to the property,” adds Mr. Hurd.
Dollar Tree is located at 100 W Jones St in Kenly, NC. This store is positioned strategically directly off of the I-95 Kenly/Wilson exit. There are multiple credit tenants located within a half mile of the store including Food Lion, McDonalds, O'Reilly Auto Parts, Dollar General, Subway, USPS, NAPA Auto Parts, Boost Mobile as well as a Quality Inn directly across the street. The main thoroughfare through town also hosts multiple local businesses including churches, services stores, banks, restaurants and a car dealership.
About Marcus & Millichap (NYSE: MMI)
With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap 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.
