THREE-STATE TACO BELL PORTFOLIO SOLD FOR $12.2 MILLION
ALABAMA, TENNESSEE AND VIRGINIA — Marcus & Millichap Real Estate Investment Services has brokered the sale of 10 Taco Bell restaurants between two undisclosed parties for $12.2 million. Four restaurants each are located in Alabama and Tennessee, and two are located in Virginia. The stores sold at a price of $497 per square foot. Richard Merryman and William Schofield of Marcus & Millichap’s San Francisco office and Andrew Clark of the firm’s Birmingham, Ala., office represented the seller. John Nguyen and Jonathan Mitchell of the company’s Newport Beach, Va., office represented the buyer.