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 Five Guys Anchored Shopping Center, a 6,447-square foot retail property located in North Dartmouth, MA, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $3,500,000.
Laurie Ann (L.A.) Drinkwater, CCIM, Senior Vice President Investments, Seth J. Richard, First Vice President Investments and Harrison Klein, Associate, investment specialists 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, a private investor, was secured and represented by Laurie Ann (L.A.) Drinkwater, CCIM and Seth J. Richard, investment specialists in Marcus & Millichap’s Boston and Manhattan offices.
The property is located at 85 Faunce Corner Mall Rd in North Dartmouth, MA directly off I-195 in the heart of this retail corridor and nearby the University of Massachusetts Dartmouth campus. Richard notes, “The national tenants Five Guys, Jersey Mikes, Tropical Smoothie Café and Edible Arrangements were the headline while the property’s location was the backdrop that helped solidify the premium pricing and ultimate sale.” Drinkwater adds, “The incredible cooperation between buyer and seller were what ultimately helped expedite the highly efficient 18 day closing of the asset to meet both sides year-end deadline. We thank all parties involved in helping complete this sale.”
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.
