Dougherty Team Arranges Sale of 2,640 Square-Foot Arby's
Willingboro, NJ, October 27th, 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 Arby’s, a 2,640-square-foot Net-Leased property located at 4208 Route 130, Willingboro, NJ, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $1,250,000.
Mark Krantz and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, ACW Corporation. “The seller, an experienced second-generation Arby’s franchisee operator, owned and managed the property for over 38 years with a specific business plan to maintain the Arby’s operations while extracting the value out of the real estate in order to grow,” said Mark Krantz.
“Situated on an expansive 1.44 acres of prime real estate, this location represents a strategic location, with a signalized intersection, access from both Route 130 and Beverly Rancocas Road, and exceptional traffic counts of over 44,000,” said Mark Krantz. "Before going to market, I worked closely with the ownership to strategically structure a sale-leaseback arrangement, wherein ACW committed to a 20-year lease at an agreeable rental rate. Simultaneously, we successfully marketed the property to the investment world on a national platform," explained Mark Krantz.
"A local retail owner and buyer developed a strong affinity for the exceptional real estate fundamentals and was able to receive financing from Asian Bank. The successful completion of this deal stands as a testament to the collaborative efforts of all parties involved,” said Mark Krantz.
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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