Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Bright Horizons, a 6,375-square foot net-leased property located in Franklin, MA, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $1,180,000.
Laurie Ann (L.A.) Drinkwater, Senior Vice President Investments, and Seth J. Richard, First Vice President Investments, 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, a private investor. The buyer, also a private investor, was secured and represented by Laurie Ann Drinkwater and Seth J. Richard. “The seller initially listed the property after seeing the significant lack of quality net lease opportunities during this global upheaval and the market response proved correct!” noted Richard. Drinkwater adds, “That plan was finalized once a strong buyer was found that recognized both the strength of the business and this location in particular. We thank all parties in executing a seamless transaction.”
Bright Horizons is located at 2 Constitution Blvd in Franklin, MA. The tenant has been at this location for over 25 years and currently operates on a net lease. Renovated in 2019, the property has a brand new roof and sits on 1.95 acres less than a mile from I-495. Additionally, household income within a five mile radius of the location is over $140,000.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.
