Press Releases
Marcus & Millichap Announces the Sale of Heartland Dental & Dunkin, a 5,418-Square-Foot Retail Property in Minnesota
December 13, 2023
OTSEGO, Minnesota, December 13, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Heartland Dental & Dunkin', a 5,418-square-foot retail property located in Otsego, Minnesota. The asset sold for $3,030,000.
Alex M. Frankel, Chris Lind, Mark Ruble and Zack House, investment specialists in Marcus & Millichap’s Columbus and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Jon Ruzicka, Minnesota Broker of Record, assisted in closing this transaction.
Heartland Dental & Dunkin' can be found at 8798 Parkview Avenue NE in Otsego, Minnesota. This location features newly signed 10-year leases, incorporating 10 percent rental escalations every five years with multiple renewal options. The property was recently constructed in 2022 and includes a convenient drive-thru.
Alex M. Frankel, Chris Lind, Mark Ruble and Zack House, investment specialists in Marcus & Millichap’s Columbus and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Jon Ruzicka, Minnesota Broker of Record, assisted in closing this transaction.
Heartland Dental & Dunkin' can be found at 8798 Parkview Avenue NE in Otsego, Minnesota. This location features newly signed 10-year leases, incorporating 10 percent rental escalations every five years with multiple renewal options. The property was recently constructed in 2022 and includes a convenient drive-thru.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
