MARCUS & MILLICHAP ARRANGES THE SALE OF A DOLLAR GENERAL IN MILLSBORO, DE

Philadelphia, PA, July 20, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, has announced the sale of Dollar General, a 10,640 square foot net-leased property located in Millsboro, DE, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $2,070,000.

The buyer, a limited liability company, was secured and represented by Derrick Dougherty and Steve Garthwaite, investment specialists in Marcus & Millichap’s Philadelphia office. “The purchaser was attracted to this asset due to the quality location and long term lease guaranteed by a BBB rated public company”, said Garthwaite.

The Property is located at 26012 John J Williams Hwy in Millsboro, DE. This Dollar General location is a relocation Plus Dollar General store. The property is encumbered with an Eleven (11) Year NN Lease, leaving limited landlord responsibilities. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. “Dollar General grew through the last recession and has seen increases in sales in as much as 300% at some locations throughout this pandemic. We continue to be bullish on essential retailers as an investment strategy and for equity preservation heading into a potential downturn.”, said Garthwaite. This Dollar General is highly visible as it is strategically positioned on John J. Williams Highway which sees 17,671 cars per day at it's nearest intersection. The five mile population from the site exceeds 29,600, while the one mile median household income exceeds $71,000 per year, making this location ideal for a Dollar General.

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.