Woodside, DE, September 15th, 2023 – 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 Dollar General, a 10,566-square-foot Net-Leased property located at 5300 S Dupont Hwy, Dover, Delaware, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $2,050,000.
Jacob Haslach and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the opportunity to represent the buyers, a Partnership of Maryland-based investors. “This sale showed a great example of partnership between the buyer and seller party. There were consistent open lines of communication and proactivity throughout the entire sale process,” said Jacob Haslach.
“The site is an exceptionally well-positioned property directly on DuPont Highway with visible signage and a direct access point,” said Derrick Dougherty. The submarket has over 48,000 residents with a median household income of over $80,000 within 5-miles.
The site sits in the middle of Delaware, within a few miles of the Dover Airforce Base, with over 4,000 employees, and Bayhealth Kent General Hospital, with over 2,000 employees. “The sellers did an amazing job securing a tenant that caters to the submarket needs. The brand-new lease features a 15-year base term and 3, 5-year options with 10% increases,” said Jacob Haslach.
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. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting, and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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