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| Wendy's, Kernersville, NC and High Point, NC |
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| Roee E. Ben-Moshe |
KERNERSVILLE, NC, Feb. 17, 2015 – Marcus & Millichap
(NYSE: MMI), a leading commercial real estate investment services firm with
offices throughout the United States and Canada, today announced the sale of
two Wendy’s properties in Kernersville and High Point, NC.
The 1,554-square foot Kernersville property
sold for $2,400,000 and the 4,206-square foot High Point property sold for
$1,500,000.
Gabriel Britti and Ronnie Issenberg, vice
president investments, and Roee E. Ben-Moshe, an associate, in Marcus
& Millichap’s Miami office represented the seller, a limited liability
company from Memphis, TN. Allen Smith,
broker, assisted in closing the transactions.
The Kernersville property, located at 1468 NC Highway 66
South, was purchased by a private investor from California.
The High Point property, located at 2710 South Main Street,
was purchased by a limited liability company from Ardmore, PA. The buyer was
secured by Mark Taylor, a first vice president investments in Marcus
& Millichap’s Philadelphia office, and Dean Zang, a first vice
president investments in the Washington D.C. office.
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| Ronnie Issenberg |
The Wendy's properties have absolute-net 20-year leases with
zero landlord responsibilities.
In July of 2014, NPC signed a brand new lease
which includes 10 percent rent increases every five years with four five-year
options.
The lease is absolute-net in nature, with no landlord
responsibilities.
For a complete copy of the company’s news release, please
contact:
Kirk A. Felici
First Vice President/Regional Manager
Miami, FL
(786) 522-7000
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