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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