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| Golden Corral Restaurant, 2100 West Atlantic Boulevard, Pompano Beach, FL |
POMPANO BEACH, FL – 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 Golden Corral, an 11,035-square foot net-leased property
located in Pompano Beach, Fla. The asset sold for $4,178,917.
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| Scott C. Sandelin |
Scott C. Sandelin, a vice
president investments in Marcus & Millichap’s Miami office, had the
exclusive listing to market the property on behalf of the seller, a private
investor from Aventura, Fla.
The buyer,
a limited liability company from Aventura, Fla., was secured and represented by
Adam J. Tiktin, a first vice
president investments, and Debra Franklin, an associate, also in Marcus &
Millichap’s Miami office.
“This was an opportunity
to purchase a strong performing asset with 13 years remaining on an absolute
triple-net lease,” says Tiktin. “The
operator is the fourth largest restaurant franchisee in the U.S. and the
largest Golden Corral franchisee.”
“We received multiple
offers and closed less than three months from bringing it to market for just
under list price,” adds Sandelin.
The 11,035-square foot
restaurant was built in 2005 and is situated on a 1.8 acre lot. Golden Corral
is located at 2100 W. Atlantic Blvd.
on a signalized intersection. It is an out-parcel to Wal-Mart Supercenter and
is surrounded by national tenants.
For a complete copy of the company’s news release,
please contact:
Kirk A. Felici
First Vice
President/District Manager
Miami, FL
(786) 522-7000
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