News: Front Section
Posted: May 11, 2018
Marcus & Millichap arranges $1.6m sale of 8,000 s/f Family Dollar
Brockton, MA Marcus & Millichap sold a 8,000 s/f net-leased Family Dollar at 548 Main St. according to Tim Thompson, regional manager of the firm’s Boston office. The asset sold for $1.6 million.
Laurie Ann Drinkwater, first vice president investments, Seth Richard, first vice president investments, and Andrew Gilbert, associate, of the Richard Drinkwater Retail Group in Marcus & Millichap’s Boston and Manhattan offices, had the exclusive listing to market the property on behalf of the seller. The buyer, a private investor, was also procured by the Richard Drinkwater Retail Group.
According to Gilbert, “This deal was a win-win for both parties. The buyer was able to invest in a top-notch store doing great in its location. The seller was able to achieve a strong cap rate in addition to structuring a deal to avoid a large pre-payment penalty.” The building was built to suit for Family Dollar in 2014.
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