Woodbridge, VA (PRWEB) October 28, 2009
Marcus & Millichap Real Estate Investment Services has completed the sale of Smokey Bones Barbeque & Grill, a 5,055 sq. ft. single-tenant net leased property. Marcus & Millichap is the largest commercial real estate brokerage firm that focuses exclusively on investments and has established a reputation for building long-term relationships built on service, trust and integrity. Edward Jordan, regional manager of the firm's office in Manhattan announces that the property sold for $1.35 million.
Glen Kunofsky, an investment specialist at Marcus & Millichap had the exclusive listing that marketed the property on behalf of the seller, a REIT (real estate investment trust). In addition, the buyer was secured and represented by Cole Spalding and David Weber. Spalding and Weber are investment specialists in the Marcus & Millichap office in Washington, D.C. "This property was a great opportunity to acquire a building with multiple alternative uses at a price well below replacement cost," said Kunofsky. With Marcus & Millichap having a powerful national marketing platform, properties are exposed to the largest pool of qualified investors possible, which in turn enables the company to nationally close the largest number of real estate investment transactions on an annual basis.
With more than 30 years of experience in the business, clients benefit from the extensive track record of Marcus & Millichap. The national network of offices and largest pool of qualified investors result in optimum pricing, marketing strategy, and positioning that ultimately maximizes value for clients. The company focuses exclusively on investment sales, which means that the firm understands the needs of their investors and they provide clients with transaction expertise and product knowledge with all property types.