ARNAUDVILLE, La., August 7, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Dollar General, a 12,171-square foot net-leased property located in Arnaudville, La., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $467,000.
Daniel Hurd, a senior investment advisor in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Daniel Hurd. Chris Shaheen, Broker, assisted in closing this transaction.
“This transaction is a testament to the exclusive listing process, combined with our access to the most qualified buyers across the country. The sellers were receiving off-market offers from local investors to purchase the property and had seriously considered accepting one of them. My team and I felt these offers were far below the market value of the property and were successful in securing the exclusive listing. We generated six offers in the first week of marketing, ultimately closing the deal with an out-of-area buyer and at a price which was 17 percent above the highest unsolicited offer. I am very pleased with the results of the transaction and glad to deliver on the promise we made to our client,” stated Mr. Hurd.
Dollar General located in Arnaudville, La., was originally built in 1997 and recently underwent an interior remodel. The property has over five years remaining on a double net-lease agreement. Dollar General is located at 426 Saint Joseph Street in Arnaudville, La.
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About Marcus & Millichap (NYSE: MMI)
With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com