SUMTER, SC, August 20, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Dollar General, a 9,100-square foot net-leased property located in Sumter, South Carolina, according to James McGuckin, regional manager of the firm’s New Jersey office. The asset sold for $1,210,489.
Michael Lombardi and Steven Schiavello, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Timothy Nichols, an investment specialist in Marcus & Millichap’s Chicago Oak Brook office. Ben Yelm, South Carolina’s Broker, assisted in closing this transaction.
According to Steven Schiavello, “The market for Dollar General has remained incredibly strong, and one of the most desired net lease assets during the Pandemic. This was evident in our marketing; We raised the price when the demand for Dollar General hit their peak and closed a full asking price with a 1031 exchange buyer.”
Dollar General is located at 3380 Highway 15 in Sumter, SC
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
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