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Marcus & Millichap closes sale of newly built Verizon store in Ohio

Marcus & Millichap closes sale of newly built Verizon store,ph01

The Patton|Wiles|Fuller group of Marcus & Millichap closed the sale of a new-construction 1,800-square-foot Verizon store in Oxford, Ohio.

The asset sold for $1.23 million, which was 95 percent of list price and comes out to $683 a square foot.

Craig Fuller, Erin Patton and Scott Wiles with Marcus & Millichap’s Net Leased Properties Group had the exclusive listing to market the property on behalf of the seller, an Arizona-based merchant developer. After receiving multiple offers, Fuller, Patton and Wiles secured the buyer, a local 1031 exchange investor.

Verizon is located at 4965 College Corner Pike in Oxford. The property was built in 2016, and Verizon is bound by a 10-year lease.