$6.7M Vet Hospital Closed in Newark, DE

Newark, DE, September 8th, 2025 – 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 a Blue Pearl Veterinary Hospital, a 23,547-square-foot property located at 106 Geoffrey Drive, Newark, DE, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $6,774,292.

Nick Geaneotes and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, represented the buyer, a Maryland based private investor, in this transaction. The NNN Pro group represented the seller, a large national investor based in New York.

“This acquisition provided our investor with a rare opportunity to secure a Net-Leased asset in a highly dense market, strategically positioned along I-95 with exposure to over 185,000 vehicles daily and nearly 10 years of lease term remaining,” said Nick Geaneotes, Associate Director Investments.

“This property is well-located and anchored by a strong veterinary hospital tenant, operating over 100 locations across 30 U.S. states. As a subsidiary of Mars Petcare and Mars Inc., the world’s largest provider of veterinary care, they bring both stability and long-term growth potential to the asset,” said Nick Geaneotes, Associate Director Investments.

_____________________________________________________________________________________________

About Marcus & Millichap, Inc. (NYSE: MMI) 

Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.