MARCUS & MILLICHAP ARRANGES THE SALE OF A 2,301-SQUARE FOOT NET-LEASED PROPERTY

BENSALEM, PA, February 23, 2022 – 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 2,301-square-foot net-leased retail property tenanted by 7-Eleven in Bensalem, PA. The asset sold for $1.065 million, according to Sean Beuche, regional manager of the firm’s Philadelphia office.

Derrick Dougherty, Mark Krantz and Scott Woodard, investment specialists from the Dougherty Team of Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.The listing team also secured the buyer - another limited liability company - along with Colin Reder and Steve Garthwaite, more investment specialists from the Dougherty Team.

“With a limited supply of net-leased properties in Bucks County, PA, this 7-Eleven location in Bensalem garnered a significant amount of interest from the investment community,” said Krantz.

Tenanted by 7-Eleven, the property is located at 2364 Street Rd in Bensalem, PA and sits adjacent to the bustling intersection of Street Road and Knights Road – which sees traffic totals of approximately 51,000 vehicles per day. The property is surrounded by numerous consumer traffic generators, including Philadelphia Mills, Parx Casino and Northeast Philadelphia Airport.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.