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Marcus & Millichap Arranges the Sale of a 34,704-Square-Foot Net-Leased Property in Ohio

June 06, 2023

CROWN POINT, Indiana, June 6, 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 State of Indiana, a 34,704-square-foot net-leased property located in Crown Point, Indiana, according to Joseph Powers, Regional Manager of the firm’s Chicago Downtown office. The asset sold for $7 million.

Mitchell Kiven and Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a limited liability company, was secured and represented by Mitchell Kiven and Nicholas Kanich. Josh Caruana Regional Manager and Broker, assisted in closing this transaction.

The property is located at 9801 Georgia Street in Crown Point, Indiana. It is surrounded by new development and situated near I-65, the interstate that connects Chicago and Indianapolis. The buyer was identified quickly through the team’s initial marketing efforts and closed quickly with no price adjustments during the escrow period. “Net lease assets with strong fundamentals, particularly recent renewals with minimal landlord concessions have continued to stay in favor in today’s environment,” said Kanich.

 

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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.

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