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Marcus & Millichap Arranges The Sale Of A 11,040-Square Foot Net-Leased Property

October 07, 2021

WARRENSVILLE HEIGHTS, OH, October 7, 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 Family Dollar, an 11,040-sqaure foot net-leased property located in Warrensville Heights, OH, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $1,475,000.

Nicholas Kanich, a First Vice President of Investments in the Net Lease Property Group in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a fund manager. Michael Glass, Ohio Broker of Record, assisted in closing this transaction.

Family Dollar is located at 4042 Warrensville Center Rd. in Warrensville Heights, OH, at a hard corner that sees over 40,000 vehicles per day. “Net-leased dollar stores in major MSAs continue to attract purchasers looking for recession-resistant assets,” Kanich noted, “thanks to this high-visibility location, long lease term, and corporate credit, the property garnered multiple offers and sold at full list price.”

 

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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.

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