DURHAM, NC – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for a 58,085-square foot single-tenant net-leased Dick’s Sporting Goods (top left photo) in Durham. The listing price is $13.4 million.
Marc Strauss (middle right photo), a first vice president investments in Marcus & Millichap’s Fort Lauderdale office, and David Wells (lower left photo), a senior associate in the firm’s Miami office, are exclusively representing the seller.
Strauss and Wells have worked together to successfully execute several retail transactions in the $10 million and above price range in the past few years, which has generated outstanding results for a wide range of investors nationwide.
“This property’s prime location will attract well-qualified investors seeking stable returns in an excellent market,” says Strauss.
“In spite of the stalled economy, single-tenant retail properties remain highly sought-after among investors. This asset is located just 10 minutes from historical Chapel Hill, which draws significant demand from students and staff at Duke University.
“In addition, it is proximate to other credit-rated tenants such as Wal-Mart, Best Buy, Michael’s Arts & Crafts and Marshall’s. We expect to generate an ample number of qualified in-state and out-of-area buyers,” he notes.
“The lease for this 58,085-square foot property will be a corporate-backed,” adds Wells. “There are currently 11.5 years remaining on the lease, which has four five-year options.”
Located at 3212 Mount Moriah Rd., the site is occupied by Dick’s Sporting Goods.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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