Dealmaker: Marcus & Millichap Brokers Six Net-Leased Asset Sales for $29M

Marcus & Millichap, Calabasas, Calif., sold six single-tenant net-leased properties in New England for $28.7 million.

Glen Kunofsky, Associate Real Estate Broker with Marcus & Millichap, worked with Investment Specialist Josh Kanter and Licensed Real Estate Salesperson Anthony D’Ambrosia to close all transactions between June 10 and July 9.

“We are seeing a tremendous amount of demand for triple-net properties right now as investors are looking for passive sources of income that are both safe and conservative,” Kanter said. He noted all six properties have strong tenants, long-term leases and high-quality real estate fundamentals.

Subject property images courtesy of Marcus Millichap

The properties included:

–A 13,328-square-foot Dollar Tree built in 2008 in Marshfield, Mass.

–A 2,280-square-foot Wendy’s built in 1990 in Enfield, Conn.

–A 14,820-square-foot Walgreens built in 2008 in Bridgewater, Mass.

–A 7,499-square-foot Dollar General built in 2020 in Granby, Mass.

–A 5,800-square-foot Firestone Auto Care built in 2021 in Somersworth, N.H.

–A 20,499-square-foot Kinder Care built in 1989 in Tewksbury, Mass.

Christopher Marks of Marcus & Millichap Capital Corp. arranged the financing for the sale of the Walgreens in Bridgewater. Peter Von Der Ahe, Seth Glasser, Michael Fusco, and Binyamin Katz provided representation in the sale of the Dollar General in Granby.

“With interest rates staying low, we expect this demand to continue to increase and the market should remain very strong for the foreseeable future” Kanter said.