NEW HAVEN, CT– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced that Laurie A. “L.A” Drinkwater (top right photo), a senior associate in the firm’s New Haven, Conn. office, and Seth Richards (top left photo), a senior associate in the Manhattan office, closed $9,765,000 in transactions together during a seven-week period, according to J.D. Parker (lower right photo), vice president and regional manager of Marcus & Millichap’s Manhattan and New Haven offices.
“Laurie and Seth’s commitment to the highest level of customer service resulted in a successful July and August for several clients who elected to remain focused on the commercial real estate investment market with them this summer,” says Parker. “During a time when many people leave town on vacation, Laurie and Seth stayed in close contact with their clients and completed five retail closings and one multifamily transaction.”
The transactions are:
- Sunoco, 2,700 square feet, Glastonbury, Conn., $1,500,000
- A vacant single-tenant space, 12,000 square feet, Greenfield, Mass., $1,600,000
- A vacant retail space, 2,735 square feet, Warwick, R.I., $1,875,000
- Pond View Apartments, 56 units, Plainfield, Conn., $1,534,000
- A net-leased service station, 12,000 square feet, Colchester, Conn., $1,606,060
- An auto center, 12,000 square feet, North Smithfield, R.I., $ 1,650,000
“Taking advantage of high-probability investment opportunities on behalf of clients is a big part of what we do, in every season and in all markets,” says Drinkwater. “For example, the rise in energy prices created opportunities for investors interested in auto- and gasoline-related retail properties. Gasoline stations have benefited from higher energy prices, posting year-over-year sales growth of 22 percent, the highest among all retail sectors,” adds Drinkwater.
“We were able find opportunities for investors interested in auto-related commercial properties and for our single-tenant and multifamily clients by remaining focused on their investment goals,” says Richards.
Todd Tremblay, in the firm’s Boston office assisted in representing the seller in the Greenfield, Mass., transaction and Margaret Huelskamp in Providence, R.I., and Steven Siegel in Marcus & Millichap’s Manhattan office assisted in representing the seller in the North Smithfield, R.I., transaction.
Laurie “L.A.” Drinkwater is a licensed real estate broker in Connecticut, Massachusetts and Rhode Island.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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