Closed: Mavis Discount Tire Center for $1.9M
- christopherwiener
- Sep 16
- 2 min read
East Norriton, PA, August 27, 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 Mavis Discount Tire Center, a 11,706-square-foot property located at 24 W Germantown Pike, East Norriton, PA, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $1,981,458.
Colin Reder and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, represented the buyer, a private investor based in PA, in this transaction. The NNN Pro Group exclusively represented the sellers, large New Jersey developers and investors.
“This transaction represents a rare single-tenant, master-lease investment—featuring over 16 years remaining on Mavis Discount Tire’s lease, situated on more than two acres with 11,000 square feet of leasable space,” said Colin Reder, Associate Director Investments.
“It was a pleasure working with all parties throughout this process. Both the buyer and seller demonstrated true partnership and collaboration in overcoming challenges to bring this transaction to a successful close,” said Colin Reder, Associate Director of 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.
Comments