Marcus & Millichap has closed the sale of six single-tenant retail properties across Michigan. The six assets sold in late 2022 for a total transaction volume of $9.907 million.
Ashish Vakhariya, Seth Haron and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listings to market five of the properties on behalf of their respective sellers and one on behalf of the investor. At the time of sale, all properties were occupied by national tenants.
Marcus & Millichap received more than 10 offers on its JoAnn Fabrics & Crafts property in Roseville, Michigan, and generated multiple offers on a franchise-guaranteed Pizza Hut in Traverse City, Michigan.
Other transactions included a new construction Family Dollar/Dollar Tree combination store in Weidman, an Advance Auto Parts in Kalkaska, an Avis/Budget with car wash in Westland and a Dollar General in Lansing.
In the past 24 months, Ashish Vakhariya, Seth Haron and Darin Gross have sold or have under contract to sell, $175.6 Million of retail and medical office investment properties throughout numerous states spanning the Midwest and beyond.