News: Front Section
Posted: May 17, 2019
Drinkwater and Richard of Marcus & Millichap handle $2 million sale of Stop & Shop Fueling Station
Attleboro, MA Marcus & Millichap has completed the sale of a net-leased Stop & Shop Fueling Station. The asset sold for $2 million.
Laurie Ann Drinkwater, first vice president investments in Marcus & Millichap’s Boston office and Seth Richard, first vice president investments in Marcus & Millichap’s Manhattan office had the exclusive listing to market the property on behalf of the seller, a regional developer. The property is located at 485 Pleasant St. and is an out parcel to the Stop & Shop grocery store that it was developed to service. Located in the dominant retail corridor, Stop & Shop completed a renovation in 2010.
“This was an excellent opportunity to own a fundamentally sound piece of real estate leased to a very strong tenant with zero management responsibility,” said Drinkwater.
“The prime location and increases in rent ensure long term success for the investor,” said Richard.
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