MINNESOTA AND MICHIGAN — Marcus & Millichap (M&M) has completed the sale of a five-property retail portfolio for $11.54 million. The properties includes Office Max stores located in Alexandria, Brainerd and Mankato, Minn., as well as an Office Depot located in Traverse City, Mich. The fifth property is located in Martinsburg, W.V. All five properties have between seven and 11 years remaining on corporate-guaranteed leases. James Stonehill and Scott Wiles of M&M's Cleveland office joined with Erin Patton of the firm's Columbus, Ohio, office to represent the seller, an Ohio developer. Barry Wolfe of M&M's Fort Lauderdale, Fla., office represented the buyer, Boca Raton, Fla.-based Kin Properties. Local representation was provided by Solomon Poretsky of M&M's Minnesota office, Jonathan Dwoskin of the firm's Detroit office and Ralph Nash of West Virginia-based Old Spruce Realty.
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