Horvath and Mancinone of Marcus & Millichap close $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 (10) 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.