News: Front Section
Posted: February 12, 2015
Drinkwater and Richard of Marcus & Millichap arrange $3.43 million in sales
Laurie Ann (L.A.) Drinkwater from Marcus & Millichap's Boston office, and Seth Richard from the firm's Manhattan office, have sold a Stop & Shop fueling station, located in Hyannis, to a New England based investor in a 1031 Exchange. The asset commanded a selling price of $2.23 million. Drinkwater and Richard represented the Mass.-based seller and procured the buyer, a Mass.-based investor. Todd Tremblay is the broker of record. The Stop & Shop fueling station is located at 125 West Main St. The building is situated on 1.86 acres and sits along West Main St., west of downtown and is in an excellent location within the town and is directly adjacent to the Cape Cod Melody Tent and the Resort and Conference Center at Hyannis.
Also, Drinkwater and Richard have sold a Stop & Shop fueling station in Bourne. The asset commanded a selling price of $1.2 million to a Mass.-based apartment owner in a 1031 Exchange. Drinkwater and Richard represented the seller and procured the buyer, a Mass.-based investor. Jennifer Athas is the firm's broker of record. The property is located at 80 Cranberry Hwy. Stop & Shop is located near Sagamore Bridge with 55,000 vehicles passing per day.
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