Monday, February 15, 2016

Marcus & Millichap Arranges $1.5 Million Sale of Denny’s in Warrenton, MO

Denny's Restaurant, 429 E. Veterans Memorial Parkway, Warrenton, MO

Marc E. Strauss

WARRENTON, MO – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 5,265-square foot Denny’s restaurant located in Warrenton, MO, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,500,000 equating to $284.90 per square foot.

“This Denny’s location is situated in a high visibility location next to a 62-room motel and cinema complex,” says Strauss. “The restaurant is operated by an experienced multi-unit franchisee and has a long-term, absolute NNN lease with fixed rent increases.”

Marc E. Strauss, a first vice president investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Boca Raton, Fla.

 The buyer, a private investor from Lakewood, CA, was secured and represented by Peter Deltondo, a vice president investments in Marcus & Millichap’s Newport Beach office.

Denny's Warrenton is located 40 minutes west of St. Louis on Interstate 70, a half mile west of the State Road 47/ I-70 Interchange at 429 E. Veterans Memorial Parkway in Warrenton, MO.

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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