Marcus & Millichap Close $7.9M Sale of Three Town Fair Tire Locations

BOSTON, Jan. 2, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of three net-leased properties anchored by Town Fair Tire in Billerica, Massachusetts; Brockton, Massachusetts; and Nashua, New Hampshire. The properties sold for $7,955,360.

"These net-leased properties continue to attract aggressive private investors seeking long-term growth in cash flow from stable, secure tenancy," said Alex Quinn, senior associate. "These aggressive cap rates will set a benchmark moving forward into 2025 for single tenant, absolute net-leased retail assets that check all the boxes, such as zero landlord responsibilities and long-term leases with rent bumps backed by corporate guarantees."

Jim Koury and Quinn represented the seller, Orion Buying Corp. Colliers' Robert Rohrer Jr. represented the buyer for the Nashua property, while Marcus & Millichap's Ryan Wilmer, from the San Francisco office, introduced the buyer for the Billerica and Brockton locations. Thomas Shihadeh is the firm's broker of record in Massachusetts and New Hampshire.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.