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 Midas, a 5,254-square foot net-leased property located in Stoneham, MA, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $1,520,000.
Adam Cohen and Brett Kilar, investment specialists in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured by Adam Cohen and Brett Kilar.
Cohen notes, “The property had been marketed, unsuccessfully, by another firm, before Marcus & Millichap took on the listing. Our marketing efforts generated significant interest in the opportunity, and we fielded multiple offers within the first 48 hours of listing the property, ultimately awarding the deal to a buyer with whom we had transacted several times before.”
Built in 1980, the property is located within Stoneham’s main retail corridor, less than a quarter mile south of Redstone Shopping center, a Marshalls-anchored property which is home to Target, CVS, Michaels, Five Guys, Olympia Sports and many others. Other national tenants in the immediate vicinity include Starbucks, AutoZone, Subway, Burger King, Advance Auto Parts, Dunkin, and the UPS Store.
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.
