Marcus & Millichap : Arranges The Sale Of A Washington 6,600 Square Foot Net Leased Property
June 21, 2024 at 06:11 pm EDT
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Marcus & Millichap Arranges The Sale Of A Washington 6,600-Square Foot Net-Leased Property
June 21, 2024
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EPHRATA, WA, June 21, 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 Starbucks, a 6,600-square-foot net-leased property located in Ephrata, Washington. The asset sold for $2,015,000.
The buyer, a limited liability company, was secured and represented by RJ Vara, an investment specialist in Marcus & Millichap's Seattle office.
Starbucks is located at 1250 Basin Street SW in Ephrata, Washington. The property was built in 2022 and has eight and one-half years left on their lease term. The Buyer exchanged from a management-intensive asset and increased their cash flow by 30%+.
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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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21 June 2024 and is solely responsible for the information contained therein. Distributed by
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Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
