Marcus & Millichap handles sale of former steakhouse in Minnesota
August 20, 2010 | Staff Writer | Print Article | Email this Article
Marcus & Millichap Real Estate Investment Services recently facilitated the sale of the former Timberlodge Steakhouse in Maple Grove, Minn. The 8,686-square-foot asset commanded a sales price of $2.8 million, corresponding to more than $328 a square foot.
Cory Villaume, Sean Doyle and John Karlen, investment specialists in Marcus & Millichap’s Minneapolis office, represented both the seller, a local limited liability company, and buyer, a local restaurant operator, of the property.
“I think this transaction is another indicator of the increasing demand for well-located retail properties in the Twin Cities,” said Villaume.
Karlen added that “our strong relationships with both the buyer and seller led us to a quick closing at terms agreeable to both parties.”
Tags | Maple Grove, Marcus & Millichap, Minnesota, Retail
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