Wednesday, October 21, 2015

Hooters in Daytona Beach, FL Sold for $3.6 Million in Deal Handled by Marcus & Millichap

DAYTONA BEACH, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Hooters, a 4,400-square foot net-leased restaurant property located in Daytona Beach, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. 

The asset sold for $3,600,000 equating to $818 per square foot.

  The buyer, a private investor from New York., was secured and represented by Marc E. Strauss, a first vice president investments in Marcus & Millichap’s Fort Lauderdale office.  The seller was a private investor from Atlanta, GA.

The 4,400-square foot building sits on a 1.25 acre lot and has prominent signage in the area’s main commercial corridor.  The property is currently undergoing renovations.

Marc E. Strauss
The buyer, who was in a 1031 exchange, purchased the property as a long-term investment.

 “The buyer was able to capture a perfect piece of real estate. According to the store manager, this Hooters location is one of the top 20 producing locations in the chain and it is consecutively ranked as having the ‘best week in sales,’” says Strauss.  

“The restaurant will also benefit from the new interchange of Interstate 95 and new to be built, nearby NASCAR Resort.”

Hooters sits directly across from the Daytona International Speedway at 2100 International Speedway Blvd.

For a complete copy of the company’s news release, please contact:

Ryan Nee
Regional Manager,
Fort Lauderdale, FL

(954) 245-3400

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