Marcus & Millichap Inc.
06/19/2023 | Press release | Distributed by Public on 06/19/2023 10:37
Marcus & Millichap Announces the Sale of Bank of the West & Dave’s Hot Chicken, a 5,412-Square-Foot Retail Property in Omaha, Nebraska
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Marcus & Millichap Announces the Sale of Bank of the West & Dave's Hot Chicken, a 5,412-Square-Foot Retail Property in Omaha, Nebraska
June 19, 2023
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OMAHA, Nebraska, June 19, 2023 - 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 Bank of the West & Dave's Hot Chicken, a 5,412-square-foot retail property located in Omaha, Nebraska. The asset sold for $3,641,000.
Brennan Clegg, Mark Ruble and Chris Lind investment specialists in Marcus & Millichap's Columbus and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Jon Ruzicka, Nebraska Broker of Record, assisted in closing this transaction.
Bank of the West & Dave's Hot Chicken is located at 339 N Saddle Creek Road in Omaha, Nebraska. The Two-Tenant building was newly constructed in 2021 next to Chipotle along the Saddle Creek retail corridor.
"This deal had a unique offering for many investors due to its desirable infill location and long-term credit backed leases" says Clegg, the lead agent on the deal. "The recent growth in the surrounding area combined with its proximity to the Med Center [UNMC] created an appealing proposition for the Buyer."
Clegg notes, "In today's market, we continue to see high demand for these two-tenant triple-net assets. They provide investors with a diverse tenant mix and attractive yields in comparison to single-tenant net-lease properties."
Brennan Clegg, Mark Ruble and Chris Lind investment specialists in Marcus & Millichap's Columbus and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Jon Ruzicka, Nebraska Broker of Record, assisted in closing this transaction.
Bank of the West & Dave's Hot Chicken is located at 339 N Saddle Creek Road in Omaha, Nebraska. The Two-Tenant building was newly constructed in 2021 next to Chipotle along the Saddle Creek retail corridor.
"This deal had a unique offering for many investors due to its desirable infill location and long-term credit backed leases" says Clegg, the lead agent on the deal. "The recent growth in the surrounding area combined with its proximity to the Med Center [UNMC] created an appealing proposition for the Buyer."
Clegg notes, "In today's market, we continue to see high demand for these two-tenant triple-net assets. They provide investors with a diverse tenant mix and attractive yields in comparison to single-tenant net-lease properties."
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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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.