Press Releases
Marcus & Millichap Arranges the Sale of a Washington Single Tenant AutoZone Net-Leased Property
June 18, 2024
SHORELINE, WA, June 18, 2024 – 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 AutoZone, a 6,030-square-foot net-leased property located in Shoreline, Washington,. The asset sold for $2,850,000.
Carson Breshears and Hank Wolfer, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a private investor.
AutoZone is located at 18217 Aurora Ave North in Shoreline, Washington. AutoZone recently inked an early 10-year lease extension with scheduled rental increases every 5 years. The site, located as an outparcel to Fred Meyer, is a top performing location for AutoZone according to Placer.ai. Breshears and Wolfer generated multiple competing offers, ultimately closing the deal with a private 1031 exchange buyer from out of state.
Carson Breshears and Hank Wolfer, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a private investor.
AutoZone is located at 18217 Aurora Ave North in Shoreline, Washington. AutoZone recently inked an early 10-year lease extension with scheduled rental increases every 5 years. The site, located as an outparcel to Fred Meyer, is a top performing location for AutoZone according to Placer.ai. Breshears and Wolfer generated multiple competing offers, ultimately closing the deal with a private 1031 exchange buyer from out of state.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
