Horvath and Tremblay of Marcus & Millichap sell Burger King for $1.31 million

Robert Horvath and Todd Tremblay of Marcus & Millichap Real Estate Investment Services have brokered the transaction of a Burger King Corporate ground lease located at 187 Broadway St. The sale price of $1.31 million represents a cap rate of 7.4%. The Burger King was constructed in 2010 and has 14 years remaining on the base term with six 5-year options. Horvath and Tremblay represented the seller, Miami Stuart Realty. The buyer, 187 Broadway Realty LLC, was also procured by Horvath and Tremblay. In another transaction, Horvath, Tremblay, Adam Mancinone and Blake Barbarisi of Marcus & Millichap Real Estate Investment Services brokered the sale of a former Budget located on the Post Rd. in Fairfield, Conn. The 1,470 s/f vacant building sold for $850,000 representing $578 per s/f. Marcus & Millichap represented the seller, Salatto Properties. Richard Klein represented the buyer, Planet Pizza.

Tags: Brokerage Retail

Reprint

Previous Story Next Story

Arnold of Mott & Chace Sotheby’s International Realty sells 17 Ferolbink Way for $4.5 million

Little Compton, RI Mott & Chace Sotheby’s International Realty sold 17 Ferolbink Way, for $4.5 million. The sellers were represented by Cherry Arnold, sales associate of Mott & Chace

EAC Properties to separate from KW Collective for expansion

O,R&L Commercial facilitates $3.8m sale of 29,879 s/f mixed-use property

Atlantic Capital Partners sells shopping center in Milford for $8m

Horvath & Tremblay completes sale of Walgreens store for $4.9m

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Construction Design & Engineering

ABC-Mass. chairman’s message: Rent control isn’t the answer to our housing crisis - by Luiza Mills

Columns and Thought Leadership

The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde

This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.

End of the year retail thoughts - by Carol Todreas

Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.