MARCUS & MILLICHAP ARRANGES THE SALE OF A 84,200-SQUARE FOOT INDOOR ADVENTURE PARK

ORANGE, CT, July 21, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm has announced the sale of Urban Air Adventure Park, a 84,200-square foot net-leased property located in Orange, CT, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $7,250,000.

Derrick Dougherty and Mark Krantz, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the sellers, Gary Richetelli and Paul Kaplan of Bull Hill Associates. “In one of our country’s most challenging times in recent history, both seller and purchaser kept an open line of communication to get this deal across the finish line. Throughout the process, each party did a fantastic job of navigating and overcoming each hurdle that came our way. We are very proud to be a part of the deal team.” Krantz says. The buyer, a limited liability company, was secured and represented by Brian Kaplan, an investment specialist in Marcus & Millichap’s New Jersey office Regional Manager, Broker, assisted in closing this transaction.

The property is located at 260 Bull Hill Lane in Orange, CT. The subject property is prominently situated right off Boston Post Road in New Haven County with over 22,000 vehicles passing per day. Situated on an 8.0-acre parcel which spans over 84,200 square feet and features 500 plus car spaces & 300 shared spaces. Urban Air Adventure Park is an experience based retailer offering active entertainment and special event experiences for families and organizations, including climbing walls, obstacle courses, trampolines, zip line coasters, virtual reality experiences, indoor go karts, indoor skydiving, laser tag, and bumper cars. Urban Air is the largest indoor theme park in the country with currently over 180 domestic locations and three international locations.

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.