News:
Owners Developers & Managers
Posted: February 7, 2025
Koury and Quinn of Marcus & Millichap close $7.955m sale of three Town Fair Tire locations
Billerica, MA Marcus & Millichap completed the sale of three net-leased properties anchored by Town Fair Tire in Billerica; Brockton, Mass.; and Nashua, N.H. The properties sold for $7.955 million.
“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 Mass. and N.H.
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