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| Denny's Restaurant, 429 E. Veterans Memorial Parkway, Warrenton, MO |
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| Marc E. Strauss |
WARRENTON, MO – Marcus
& Millichap (NYSE: MMI), a leading commercial real estate investment
services firm with offices throughout the United States and Canada, announced
the sale of a 5,265-square foot Denny’s restaurant located in Warrenton, MO,
according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.
The asset sold for $1,500,000 equating to $284.90 per square foot.
“This Denny’s location is
situated in a high visibility location next to a 62-room motel and cinema
complex,” says Strauss. “The restaurant is operated by an experienced
multi-unit franchisee and has a long-term, absolute NNN lease with fixed rent
increases.”
Marc E. Strauss,
a first vice president investments, in Marcus & Millichap’s Fort Lauderdale
office, had the exclusive listing to market the property on behalf of the
seller, a limited liability company from Boca Raton, Fla.
The buyer, a private investor from Lakewood,
CA, was secured and represented by Peter
Deltondo, a vice president investments in Marcus & Millichap’s Newport
Beach office.
Denny's Warrenton is
located 40 minutes west of St. Louis on Interstate 70, a half mile west of the
State Road 47/ I-70 Interchange at 429 E. Veterans Memorial Parkway in
Warrenton, MO.
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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