Marcus & Millichap Arranges The Sale Of A 2,412-Square Foot Net-Leased Property in Hempstead, NY
Hempstead, NY, September 21, 2021 – 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 Burger King, a 2,412-square foot net-leased property located in Hempstead, NY, according to John Krueger, regional manager of the firm’s Manhattan office. The asset sold for $3,500,000.
Michael Tuccillo and Anthony Cerrone, investment specialists in Marcus & Millichap’s Manhattan office, brought the buyer to this transaction, Hempstead BK Property LLC. The seller, Hempstead Realty LLC, was represented by Silber Investment Properties.
John Krueger, Regional Manager, Broker, of the Manhattan office, assisted in closing this transaction. Tuccillo commented, “This was a corporate backed NNN lease with Burger King with 16+ years remaining on the lease and four, five-year options.”
Burger King is located at 500 Fulton Avenue in Hempstead, NY and is ideally located near numerous demand drives like Hofstra University, the Hempstead LIRR Station, and Memorial Sloan Kettering Cancer Center of Nassau County; augmenting the stability of the asset in both the short term and long-term picture.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 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.