Marcus & Millichap Arranges Sale of Six-Property Portfolio in Four States for $15.62M

CORPUS CHRISTI, TX July 9, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of six single-tenant net-leased properties in four states, including Texas, Florida, Georgia and Alabama, totaling 49,160 square feet. The sales price is $15.62 million.

John Glass, (top right photo) a senior vice president investments and senior director of Marcus & Millichap’s National Retail Group in San Francisco, represented the seller of the Colonial Bank portfolio.

Andrew Gallas, an associate in the firm’s Chicago Downtown office, and Robert Bender, (top left photo) a senior associate in the firm’s Detroit office, represented the seller of the AutoZone properties.

Andy Dorf, a senior associate and associate director of the firm’s National Retail Group in Brooklyn, and Zachary Silver Felson, an investment specialist also in the firm’s Brooklyn office, represented the buyer.

“These properties offered the buyer a rare opportunity to purchase six single-tenant triple-net leased properties with no management responsibilities in strong locations,” says Dorf.

The portfolio includes:
· A 11,400-square foot Colonial Bank, located at 1100 East Three-Notch St., Andalusia
· A 4,200-square foot Colonial Bank, located at 4312 Manatee Ave. West, Bradenton, Fla.
· A 13,500-square foot Colonial Bank, located at 501 Walnut St., Macon, Ga.
· A 5,904-square foot Colonial Bank, located at 801 E. State Road, Longwood, Fla.
· A 6,786-square foot AutoZone, located at 2149 Airline Road, Corpus Christi, Texas
· A 7,370-square foot AutoZone, located at 14062 Northwest Blvd., Corpus Christi, Texas

Press Contact: Stacey Corso
Communications Department
(925) 953-1716
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