Press Releases
Marcus & Millichap Announces the Sale of Dollar General, a Net-Leased Property in Otisville, Michigan
November 13, 2023
OTISVILLE, Michigan, November 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 Dollar General, a 9,026-square-foot net-leased property located in Otisville, Michigan. The asset sold for $1,176,000.
Karl Hinkel, Dan Yozwiak, and Darpan Patel, investment specialists in Marcus & Millichap’s Columbus and Tampa offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Steve Chaben, Michigan Broker of Record, in closing this transaction.
Karl Hinkel, lead agent on the transaction, said, "We're thrilled to have facilitated a seamless transaction for our client. The Dollar General attracted considerable interest, and within a short period on the market, we matched it with a qualified 1031 buyer. In a challenging market, well priced deals are continuing to get across the finish line."
Dollar General is located at 292 South State Street in Otisville, Michigan. The property is situated on a 1.2-acre parcel with two points of ingress and sidewalk access. Otisville is 80 minutes from downtown Detroit.
Karl Hinkel, Dan Yozwiak, and Darpan Patel, investment specialists in Marcus & Millichap’s Columbus and Tampa offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Steve Chaben, Michigan Broker of Record, in closing this transaction.
Karl Hinkel, lead agent on the transaction, said, "We're thrilled to have facilitated a seamless transaction for our client. The Dollar General attracted considerable interest, and within a short period on the market, we matched it with a qualified 1031 buyer. In a challenging market, well priced deals are continuing to get across the finish line."
Dollar General is located at 292 South State Street in Otisville, Michigan. The property is situated on a 1.2-acre parcel with two points of ingress and sidewalk access. Otisville is 80 minutes from downtown Detroit.
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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.
