Marcus & Millichap arranges $2.8 million sale of 49,905 s/f

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the U.S. and Canada,completed the sale of a two-tenant shopping center of 49,905 s/f, according to Bryn Merrey, regional manager of the firm's Washington, D.C. office. The asset sold for $2.8 million. Dean Zang, Mark Taylor, Laurie Ann Drinkwater, CCIM and Seth Richard, all from Marcus & Millichap's Washington, D.C., Philadelphia, Boston and Manhattan offices respectively, had the exclusive listing to market the property on behalf of the seller, a limited liability company related to Skyline Pacific Properties of California. The seller acquired the asset as part of a larger portfolio also brokered by Marcus & Millichap in 2013. This leasehold interest asset generated substantial buyer interest, and the ultimate purchaser was a Hartford County, Conn. based purchaser. The leasehold interest is shadowed by The Plaza at Buckland Hills, a 313,800 s/f retail center owned by Simon.