Press Releases
Marcus & Millichap Closes $41 Million Net-Lease Portfolio in the Midwest
January 29, 2026
NORWALK, Iowa, Jan. 29, 2026 – 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 the Yellow Brick Road Portfolio: 18 triple-net-leased early childhood development centers in Iowa, Minnesota, and Nebraska. The portfolio sold for $41,587,000.
“We were pleased to execute on behalf of our sellers after generating multiple competitive offers for the portfolio,” said Spencer Berkley, director of investments. “Net‑leased investment activity accelerated meaningfully in 2025, with transaction volume up 26% year‑over‑year. Our team is excited to carry that momentum into 2026, and this transaction provides a strong start to the year.” Berkley, Mark Ruble, Chris Lind, and Zack House of Marcus & Millichap, in association with Jon Ruzicka, Marcus & Millichap’s broker of record in Iowa and Minnesota, and Adam Lewis, the firm’s broker of record in Nebraska, represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust.
“The portfolio included a range of lease structures and ownership entities that required a flexible and strategic execution approach to close the transaction,” added Berkley. “In total, we brokered the sale of 20 Yellow Brick Road properties as two assets were sold separately to private buyers prior to the sale of the remaining 18 properties. This allowed the seller to execute both individual asset sales and a larger portfolio disposition efficiently.”
“This was a smooth and successful transaction, and Spencer and his team played a key role in delivering that result,” said Ditzer. “Their understanding of the net lease market and ability to anticipate issues allowed the deal to stay on track and close efficiently.” “We were very happy with the outcome,” added Carlson.
“We were pleased to execute on behalf of our sellers after generating multiple competitive offers for the portfolio,” said Spencer Berkley, director of investments. “Net‑leased investment activity accelerated meaningfully in 2025, with transaction volume up 26% year‑over‑year. Our team is excited to carry that momentum into 2026, and this transaction provides a strong start to the year.” Berkley, Mark Ruble, Chris Lind, and Zack House of Marcus & Millichap, in association with Jon Ruzicka, Marcus & Millichap’s broker of record in Iowa and Minnesota, and Adam Lewis, the firm’s broker of record in Nebraska, represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust.
“The portfolio included a range of lease structures and ownership entities that required a flexible and strategic execution approach to close the transaction,” added Berkley. “In total, we brokered the sale of 20 Yellow Brick Road properties as two assets were sold separately to private buyers prior to the sale of the remaining 18 properties. This allowed the seller to execute both individual asset sales and a larger portfolio disposition efficiently.”
“This was a smooth and successful transaction, and Spencer and his team played a key role in delivering that result,” said Ditzer. “Their understanding of the net lease market and ability to anticipate issues allowed the deal to stay on track and close efficiently.” “We were very happy with the outcome,” added Carlson.
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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.
