KNOXVILLE – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has announced the sale of a newly constructed Wendy’s. The sale consists of a 2,388 SF restaurant on a large 1.2 acre pad, net-leased property located in Knoxville, according to Scott Lunine, regional manager of the firm’s Miami office. The asset sold for $2,197,000.
Gabriel Britti and Ronnie Issenberg, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Regional Manager, Broker, assisted in closing this transaction.
“The restaurant opened for business the day the transaction closed and is backed by 210 unit, operating company based out of Florida which reiterates the strong demand for QSR investment properties backed by strong Franchisees.” says Issenberg.
Wendy’s, Chapman, TN is located at 7535 Mountain Grove Dr., Knoxville.
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.