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 9,014-square foot net-leased property located in Collinsville, Texas, according to Christopher W. Travis, Regional Manager of the firm’s Tampa office.
Daniel Hurd and Jaime Salazar, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor with assistance from Texas Division Manager and Broker of Record, Tim Speck.
“Dollar General stores have become the darling of commercial real estate following the onset of Covid-19. Our track records and access to the largest pool of qualified buyers continues to yield the highest results for our clients. The Seller was able to maximize value on the sale through the recent lease extension from Dollar General and the Buyer was pleased to see the tenant demonstrated continued commitment to this site,” says Hurd.
"We were pleased to successfully close this Dollar General at 100% of list price. Due to our strong relationships in the marketplace, specialization, and unique-tailored marketing campaign we generated 7 offers after one week on market and went under contract with a 36-day close. Offers came from Los Angeles to Boston, however, we sold it to a local buyer in Texas who had to really step up on price and terms to get the deal,” said Salazar.
Dollar General is located at 407 US-377 in Collinsville, Texas.
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.
