MARCUS & MILLICHAP COMPLETES TWO RETAIL SALES TOTALING $4.84 MILLION

NORTH ANDOVER, MASS., AND COATESVILLE, PA. — The Boston and Philadelphia offices of Marcus & Millichap have completed two retail sales for a total of $4.84 million. In the first transaction, a 15,134-square-foot Rite Aid pharmacy located at 525 Turnpike St. in North Andover traded for $3.4 million. The tenant currently has 18 years remaining on its lease with eight 5-year extension options. Robert Horvath and Todd Tremblay of Marcus & Millichap's Boston office procured the foreign buyer, REEB LLC. The seller was San Francisco-based Skyline Pacific Properties. In the second transaction, Mark Taylor and Dean Zang of Marcus & Millichap's Philadelphia office represented Pennsylvania-based BR Branches LP in the acquisition of a retail bank branch located in Coatesville. The property, which is situated at the intersection of routes 30 and 82, is occupied by Harleysville National Bank on a 20-year bonded absolute-net lease with rent increases every 5 years. Daniel Seltzer of Richard J. Seltzer Inc. Realtors procured the buyer, Lucia Spaventa.