News: Northern New England
Posted: January 3, 2008
Horvath and Mancinone of Marcus & Millichap complete $2.184m sale
Robert Horvath and Adam Mancinone of Marcus & Millichap Investment Real Estate Services of New Haven, Conn. recently closed the sale of a T.G.I. Friday's, located at 221 Loudon Rd. for $2.184 million.
The site consists of 2.96 acres of prime retail frontage on Loudon Rd (State Highway 9). The property is improved by a new construction free standing T.G.I. Friday's that comprises 5,800 s/f. T.G.I. Friday's executed a ten-year ground lease at the close of escrow.
The seller of 221 Loudon Rd. was T.G.I. Friday's Inc, a Texas based company; the buyer was Connecticut Based Crown Point Real Estate Investors. Marcus & Millichap represented both parties in the transaction.
With more than 1,400 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry's most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.
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