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 4,106-square foot net-leased property located in Hadley, MA, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $1,600,000.

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 limited liability company. The buyer was secured and represented by James Garner, James Medefind and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office.

Cohen notes, “The buyer had missed out on an opportunity to buy another of the seller’s Midas locations, so we worked with both buyer and seller to make this one available to them instead. We were able to bring the entire deal together in less than 60 days, allowing the buyer to quickly replace the cashflow of his relinquished property with this 1031 replacement.”

Built in 1984, the property is located within Hadley’s main retail corridor, home to the Hampshire Mall, Walmart, Target, Home Depot, and many other national tenants.

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.