News: Front Section
Posted: March 31, 2017
Drinkwater and Richard of Marcus & Millichap broker $1.51 million sale
Laurie Ann Drinkwater, Marcus & Millichap
Seth Richard, Marcus & Millichap
New Britain, CT Marcus & Millichap completed the sale of AFC Urgent Care, a 3,200 s/f net-leased property, according to John Krueger, regional manager of the firm’s Manhattan office. The asset sold for $1.51 million.
Laurie Ann (L.A.) Drinkwater and Seth Richard, both first vice president investments in Marcus & Millichap’s Boston and Manhattan offices respectively, had the exclusive listing to market the property on behalf of the seller, a Connecticut development group. The buyer, a private investor in a 1031 exchange, was secured and represented by Willie Jalboukh and Gary Beydoun, investment specialists in Marcus & Millichap’s Manhattan office.
AFC Urgent Care, 135 East Main Street - New Britain, CT
“The AFC Urgent Care is located at 135 East Main St. in New Britain, Connecticut and was the newest location for the expanding medical practice group. It has already proven to be a very successful location after less than six months of operations” said Richard. “Based on the strong location and ease of access, we knew this was going to be a very productive use for this property and the buyers should do very well with it.”
With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company 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.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid: