Press Releases
Marcus & Millichap Arranges Sale of Brand-New Dollar General Property in Kenyon, Minnesota
December 15, 2025
KENYON, Minn., Dec. 15, 2025 – 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 a brand-new Dollar General property in Kenyon, Minnesota, for $2,139,000.
“After selling our client’s dark pharmacy, we identified potential all-cash 1031-exchange purchases, and he preferred this long 15-year lease with zero landlord responsibilities,” said Mitch Grant, associate director investments. “We moved from contract to close in under 30 days. It’s always a pleasure to collaborate with other Marcus & Millichap offices to offer our clients a broader range of investment opportunities.”
Phil Sambazis, investment specialist in Marcus & Millichap’s San Diego Del Mar office, in association with Jon Ruzicka, the firm’s Minnesota broker of record, had the exclusive listing to market the property on behalf of the seller, a Twin Cities area real estate developer and investor. Grant and Nicholas Kanich, from Marcus & Millichap’s Chicago Downtown office, procured the buyer, a California-based family trust.
The 10,566-square-foot property is located at 98 Gunderson Blvd., about 55 miles south of Minneapolis, and serves a growing population of more than 48,000 residents. It is leased to Dollar General on a 15-year absolute net lease.
“After selling our client’s dark pharmacy, we identified potential all-cash 1031-exchange purchases, and he preferred this long 15-year lease with zero landlord responsibilities,” said Mitch Grant, associate director investments. “We moved from contract to close in under 30 days. It’s always a pleasure to collaborate with other Marcus & Millichap offices to offer our clients a broader range of investment opportunities.”
Phil Sambazis, investment specialist in Marcus & Millichap’s San Diego Del Mar office, in association with Jon Ruzicka, the firm’s Minnesota broker of record, had the exclusive listing to market the property on behalf of the seller, a Twin Cities area real estate developer and investor. Grant and Nicholas Kanich, from Marcus & Millichap’s Chicago Downtown office, procured the buyer, a California-based family trust.
The 10,566-square-foot property is located at 98 Gunderson Blvd., about 55 miles south of Minneapolis, and serves a growing population of more than 48,000 residents. It is leased to Dollar General on a 15-year absolute net lease.
# # #
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.
