ALLIANCE, OHIO — Marcus & Millichap has brokered the sale of an Applebee's Restaurant in Alliance. Located at 2600 W. State St., the 4,320-square-foot restaurant facility sold for $2.05 million or $475 per square foot. John Talbot, Scott Wiles,Craig Fuller and Erin Patton of Marcus & Millichap negotiated the sale. The seller and buyer were not disclosed.
Restaurant
LOVELAND, COLO. — Golden Corral will be opening an 11,270-square-foot establishment at Van de Water, McWhinney’s 370-acre mixed-use development located at Highway 34 and Sculpture Drive in Loveland. Situated directly across from Kohl’s department store, the family-friendly buffet and grill restaurant will be able to accommodate 398 guests when doors open in August.
FAIRFIELD, CALIF. — The Silver Group has arranged the almost $1.26 million sale of a Wendy’s restaurant in Fairfield. Greg Cunha of the San Rafael, Calif.-based firm handled the off-market transaction involving a local private investor seeking a Bay Area addition to his portfolio. The new tenant at the fast-food property is a multi-unit franchisee with several Bay Area Wendy’s locations.
REDMOND, WASH. — Five Guys Burgers and Fries has leased 2,475 square feet at Regency Centers’ Overlake Fashion Plaza, located at 2150 148th Ave. NE in Redmond. Terms of the deal were not disclosed. The commitment by the quick-service provider of freshly made burgers, hot dogs and fries will bring the 80,555-square-foot center to 100 percent occupancy when the restaurant opens for business this summer. Angela Oliveri of First Western Properties represented the tenant in the transaction, and Leibsohn & Co.’s Tyler Jones represented the Jacksonville, Fla.-based shopping center owner, operator and developer. The lease agreement constitutes the second Five Guys Burgers and Fries restaurant in Regency’s Pacific Northwest portfolio.
ROGERS, ARK. — Marcus & Millichap has brokered the sale of a net-leased Burger King in Rogers. Located at 500 S. Eighth St., the 3,621-square-foot facility sold for $1.58 million. John Edward Brigel, Ron Schultz and CJ Cooper of Marcus & Milichap represented the undisclosed seller in the transaction. The buyer was not released.
DUPONT, WASH. — Marcus & Millichap has negotiated the almost $1.55 million sale of a 5,314-square-foot Jack in the Box, located at 1275 Center Drive in DuPont. Situated within close proximity to the Fort Lewis Army base, the single-tenant, net-leased property incorporates a sublease from Jack in the Box to Chevron Corp. for a convenience store with fuel pumps. Marcus & Millichap’s Dino Christophilis represented the seller, a partnership, in the transaction.
SURPRISE, ARIZ. — Marcus & Millichap has brokered the $6.2 million sale of a portfolio of single-tenant, NNN ground leases in Surprise. The portfolio of ground leases, consisting of four properties leased to Chili's, Olive Garden, Red Lobster and U.S. Bank, encompasses approximately 5.05 acres of land. Marcus & Millichap’s Jamie Medress and Mark Ruble represented the private-investor seller in the transaction.
TACOMA, WASH. — Marcus & Millichap has closed the nearly $1.87 million sale of a 3,723-square-foot Burger King, located at 1420 72nd Street East in Tacoma. The brokerage firm’s Peter Nisbet represented the seller, Emerald Land Assets LLC, in the transaction, and Sean Shiau of GLC RE Group represented the buyer, Emerald CT Investment Corp.
ALBUQUERQUE, N.M. — NAI Maestas & Ward Commercial Real Estate’s Jim Hakeem represented Twisters in the purchase of a 25,000-square-foot parcel of vacant land in the retail center located near the northwest corner of Paseo del Norte and Wyoming in Albuquerque. Terms of the deal were not disclosed. According to NAI Maestas & Ward, the acquisition will accommodate the fast-casual restaurant company’s 15th location.
MESA, ARIZ. — Marcus & Millichap has negotiated the $2.05 million sale of a ground lease for a 6,483-square-foot P.F. Chang's China Bistro located at 6610 E. Superstition Springs Blvd. in Mesa. The single-tenant, net-leased property is situated near the 1.2 million-square-foot Superstition Springs Mall. Marcus & Millichap’s Jamie Medress and Mark Ruble represented the private-investor seller in the transaction.