SALE OF A 1,777-SQUARE-FOOT NNN SALE-LEASEBACK POPEYES
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Naugatuck, CT, August 17th, 2026 – 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 Popeyes, a 1,777-square-foot property located at 111 Rubber Ave, Naugatuck, CT, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $1,746,000.
Scott Woodard, Nick Geaneotes, and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, Popeyes franchisee operators. Horvath & Tremblay represented the buyer in this transaction.
“Representing the sellers on this sale-leaseback required seamless execution and constant alignment with their goals. Bringing a brand-new 15-year NNN lease to market allowed us to unlock capital for our client while delivering high-quality passive investment to the buyer, leading to a great outcome driven by strong communication,” said Scott Woodard, Senior Director Investments.
“111 Rubber Avenue stands out because of its position at the heart of Naugatuck’s commercial engine. Sitting on a high-visibility corridor just off Route 8, the property captures steady flow of local daily traffic and commuter exposure. When you pair that prime placement with surrounding downtown redevelopment and strong regional buying power, you get the kind of intrinsic real estate location that gives net-lease investors long-term confidence,” added Nick Geaneotes, Associate Director Investments.
“1031 and net-lease buyers are actively seeking premier, low-risk assets in today’s market,” said Derrick Dougherty, Senior Managing Director Investments. “Backed by a premier, multi-state QSR operator with hundreds of locations[AB1] , this asset offers investors exceptional long-term stability. Paired with 10% rent increases every 5 years and a zero-management NNN structure, the sale underscores the ongoing demand for top-tier single-tenant retail assets.”
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. Marcus & Millichap closed 8,818 transactions with a sales volume of $50.8 billion in 2025. The company had 1,808 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.
[AB1]I kept this anonymous because I think these are also the sellers? Unless it is fine to name them here and above
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