Net Lease W Minnesota

Marcus & Millichap sells 5,555-square-foot net-leased property in Minnesota

Marcus & Millichap sells 5,555-square-foot net-leased property,ph01

Marcus & Millichap closed the sale of a 5,555-square-foot net-leased property at 1430 NE 109th Ave. in Blaine, Minnesota. The asset went from list to contract in less than two weeks, and sold for $1.815 million after multiple offers.

Joseph Bono, Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, listed the property on behalf of the seller, a developer. The 1031 Exchange buyer from California was secured and represented by Alvin Mansour and Kevin Mansour, investment specialists in Marcus & Millichap’s San Diego office.

Matthew Hazelton assisted in closing the transaction as the broker of record in Minnesota.

The property, occupied by a Chili’s property, has a corporate guarantee by Brinker International, which operates 1,600 restaurants.