SAN FRANCISCO, CA, Oct. 3, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 12 freestanding Napa Auto Parts stores net leased to Genuine Parts Co.
The assets are located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington.Although the sales price was not disclosed, the portfolio was listed at $18.65 million.
John Glass,(top left photo) a senior vice president investments in the San Francisco office of Marcus & Millichap, represented the seller. Rob Fox, a senior associate in the firm’s Atlanta office, represented the buyer.
Glass and Fox closed the portfolio sale in conjunction with John Leonard, (bottom right photo) Marcus & Millichap’s broker of record in Alabama, Steve Ekovich, (bottom left photo) Marcus & Millichap’s broker of record in Florida; Tim Rios, broker of record in Illinois; Brent Yu
rtkuran, (middle right photo) broker of record in Mississippi; Edward Jordan, broker of record in New York State; James Allen Smith, broker of record in North Carolina; Tim speck, (middle left photo) broker of record in Texas; Ramon Kochavi, broker of record in Virginia; and Gregory Wendelken, the firm’s broker of record in Washington State. The portfolio includes locations in Bessemer, Ala.; Fontana, Calif.; Florida City, Fla.; St. Augustine, Fla.; Lake City, Ga.; Champaign, Ill.; Depew, N.Y.; Charlotte, N.C.; Stafford, Texas; Midlothian, Va.; Vancouver, Wash.; and Jackson, Miss.
“The new o
wner has acquired a national portfolio of 12 stable properties with a corporate guarantee by Genuine Parks Co, a firm boasting a net worth of $2.7 billion,” says Fox. Each lease has six 5-year renewal options at fair-market value. Stores range in size from 5,000 square feet to 11,000 square feet and were constructed between 1986 and 2007.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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