News: Retail
Posted: January 22, 2015
Drinkwater and Richard of Marcus & Millichap arrange sales of two properties - $3.06 million
Laurie Ann Drinkwater from Marcus & Millichap's Boston office, and Seth Richard from the firm's Manhattan office have sold a Napa Auto Parts Retail store to a New England-based investor in a 1031 Exchange. The asset commanded a selling price of $1.65 million.
Drinkwater and Richard represented the buyer, a Massachusetts based investor, while Marcus & Millichap's San Francisco office represented the institutional seller. Adrian Harris is the firm's broker of record in Maine.
Napa Auto Parts is located at 65 Market St. It is situated at a four-way, signalized hard-corner between the Mill Creek Shopping Center and a Shaw's Supermarket anchored shopping center.
In another transaction, Drinkwater and Richard have sold a Merchant's Bank, located in Waterbury, Vt. The asset commanded a selling price of $1.41 million.
Drinkwater and Richard from the firm's Manhattan office represented the New England-based investor, while the firm's San Diego office represented the seller. Jeffrey Nick is the firm's broker of record in Vermont.
Merchant's Bank is located at 994 Waterbury Stowe Rd. The Bank is located off I-89.
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