Huntingdon, PA, August 7th, 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 Taco Bell, a 2,500-square-foot property located at 9576 William Penn Highway, Huntingdon, PA, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $1,000,000.
Scott Woodard and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a group of family member investors. Scott Woodard brought the buyer to this deal as well, a local Pennsylvania net leased investor.
“This deal offered a rare opportunity for buyers to purchase a Taco Bell with a 25-year ground lease and a strong franchisee guarantee from Charter Foods,” said Scott Woodard.
“It was a pleasure working with all the parties involved in this transaction. Everyone worked effectively and efficiently to get this property transferred and made it possible to close on an expedited timeline,” said Scott Woodard.
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About Marcus & Millichap, Inc. (NYSE: MMI)
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.