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| Dollar General, 11378 East Highway 3, Lane, OK |
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| Daniel Hurd |
LANE, OK – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, has announced the sale of Dollar General -
Lane, a 9,014-square foot net-leased property located in Lane, OK, according to Chris
Travis, sales manager of the firm’s Tampa office.
The asset sold for $1,055,280.
Daniel
Hurd,
a senior investment advisor in Marcus & Millichap’s Tampa office, secured
and represented the buyer, a private investor.
Broker, Mark McCoy, assisted in closing this
transaction.
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| Mark R. McCoy |
“I was able to negotiate a 7.25 capitalization rate for my client on this deal.
"That is nearly a double-digit annual cash-on-cash return for
a 13-year NNN lease!
"Timing was on our side for this transaction as the Federal Reserve decided to lower rates while we were under contract to purchase this deal.
"Timing was on our side for this transaction as the Federal Reserve decided to lower rates while we were under contract to purchase this deal.
"We navigated from signing a contract to closing in just 35
days, which is pretty impressive given the fact that financing and third-party
reports were involved,” added Hurd.
Dollar
General - Lane is located at 11378 East Highway 3 in Lane, OK. Dollar
General has a 15-year triple net lease which commenced in 2017. This favorable
lease structure allows for passive income and no landlord responsibilities.
CONTACT:
Whitney Davis
Whitney.Davis@marcusmillichap.com
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