THE DOUGHERTY TEAM AT MARCUS & MILLICHAP ARRANGES THE SALE OF A STARBUCKS AND CHICK-FIL-A PORTFOLIO

PHILADELPHIA, PA, January 28th, 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 the Starbucks and Chick-Fil-A, 6,400-square-feet of net-leased properties located at 260 Old Morehall Road, Malvern, PA 19355, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $8,000,000.

Derrick Dougherty and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a New York based private investor. “The purchaser acquired a trophy asset located within the sought-after Chester County submarket,” said Derrick Dougherty. Chester County is the wealthiest county in the state of Pennsylvania and has a total population of over 538,000 people.

The subject site strategically is located along North Morehall Road seeing over 29,000 vehicles per day. “These two brands are an all-star cast of tenants sitting on a total of 4.12 acres in the heart of a growing retail corridor. Both leases have attractive rental increases and limited Landlord responsibilities,” said Scott Woodard.

“Starbucks and Chick-Fil-A are both top performers in not only the submarket, but also the country.,” said Derrick Dougherty. Starbucks is the world’s largest and most popular coffeehouse chain. Chick-Fil-A was ranked America’s favorite fast-food chain in 2021 and continues to increase in popularity and sales revenue year over year.

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.