Middletown, DE, October 25th, 2024 – 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 Former Arby’s property, a 2,420-square-foot property located at 101 Sandhill Drive, Middletown, DE, according to Tim Stephenson, regional manager of the firm’s Philadelphia office.
Jacob Haslach and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the opportunity to represent the buyer, a regional family office, in this transaction. “This property presented an ideal development and value-add opportunity for our buyer, positioned on over an acre of land just off Route 299, shadow anchored by “to-be” developed Sprouts Farmers Market & Food Lion anchored shopping center.,” said Jacob Haslach.
Haslach added, “This transaction exemplified the demand for well positioned value-add retail in today’s market. Our buyer moved quickly to secure the opportunity and get control of a great site in a growing submarket. Congrats to all.”
Marcus & Millichap, Inc. is a leading national 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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
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