Burger King Closing - 2 miles from Downtown Lancaster

Lancaster, PA, August 17th, 2023 – 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 Burger King, a 4,012-square-foot Net-Leased property located at 1408 Lititz Pike, Lancaster, PA, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $2,200,000.

Nick Geaneotes, Steve Garthwaite and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the sellers, a local franchisee with over 50 years of experience and multiple locations throughout Central PA. Scott Woodard. Colin Reder, and Derrick Dougherty represented the buyer, a private PA based investor.

"This asset is extremely well-positioned in the submarket, located less than 2 miles from downtown Lancaster. The property is surrounded by major shopping centers and hospitals; in addition to Franklin & Marshall College," said Nick Geaneotes. The trade area has over 186,000 residents, with expectations of growing 2-3% in the next 3 years.

"This property has tremendous real estate fundamentals, situated on about an acre of land with 14 years of lease term remaining and an absolute triple net lease," said Derrick Dougherty. This site offers a sale-leaseback opportunity, zero landlord responsibilities, and annual rental increases.

"It was a pleasure working with both the buyer and seller on this transaction, keeping the lines of communication open and operating swiftly within The Dougherty Team," said Colin Reder. "This sale truly demonstrated an amazing example of partnership and collaboration between the clients and within our team," said Scott Woodard.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research, and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting, and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.