Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications
MidwestCRE

Marcus & Millichap arranges sale of a 1,848 SF net- leased property

Staff Writer April 5, 2017
Share on Facebook Share on Twitter Share on LinkedIn Share via email

One of the leading commercial real estate investment services firm with offices throughout the United States and Canada, Marcus & Millichap, sold a Burger King, a 1,848 square-foot net-leased property located in Minneapolis, MN, according to Steven D. Weinstock, Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $1,305,000.

Austin Weisenbeck, Aaron Baum and Sean R. Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a partnership, was secured and represented by Steve Sauter, an investment specialist in Marcus & Millichap’s Palo Alto office. Marcus & Millichap’s Minneapolis office Regional Manager, Craig Patterson, assisted in closing this transaction.

Burger King at 5358 West Broadway Avenue sold in 18 days at 102 percent of its original list price. This is an absolute triple-net lease with zero landlord responsibilities and has a franchisee guarantee from Heartland Midwest, LLC, a wholly owned subsidiary of Heartland Food Corporation, the second largest Burger King operator in the franchise system.

This property has a 20-year lease with four, five-year options. There are currently over 11-years remaining on the initial term with 1.25 percent increases in rent each year following June 2012

Tags
Minnesota Real Estate Journal
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisCRE

Clayco announces Katie Lane as new chief talent officer

June 8, 2023
IllinoisOffice

Simpson Technologies moving HQ to Naperville’s CityGate Centre

June 8, 2023
MichiganIndustrial

Friedman Real Estate closes 12,000-square-foot industrial sale in Harrison Township

June 8, 2023
OhioRetail

Pair of tenants opens at Dayton’s Greene Town Center retail center

June 8, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com