Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Brooklyn Commons, a 106,900-square foot retail property located in Brooklyn, CT, according to John Horowitz, regional manager of the firm’s Boston office. The asset sold for $4,315,374.

Laurie Ann (LA) Drinkwater and Seth J. Richard, investment specialists in Marcus & Millichap’s Boston & New York offices respectively, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Laurie Ann (LA) Drinkwater and Seth J. Richard.

Brooklyn Commons is located at 564 Providence Rd in Brooklyn, CT. The shopping center is anchored by Ocean State Job Lot and is occupied by a mix of other national tenants including Dollar Tree, Rent A Center, Subway and includes three out parcels leased to AutoZone, KFC

and a real estate office. The center was nearly 60 percent occupied at the time of sale and provides the new owners with immediate upside in leasing the remaining vacancies Richard & Drinkwater stated. The property was also very well maintained by the previous owners over their nearly forty-year ownership.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap 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. To learn more, please visit: www.MarcusMillichap.com.