Marcus & Millichap Arranges the Sale of a 16,000 Square-Foot Net-Leased Property

Marcus & Millichap announced the sale of Goodwill, a 16,000 square-foot net-leased property located in Las Vegas.LAS VEGAS, NV, March 25, 2014– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Goodwill, a 16,000 square-foot net-leased property located in Las Vegas, NV, according to Justin C. White, regional manager of the firm’s Las Vegas office. The asset sold for $4,110,000

The buyer, a private investor, was secured and represented by Raymond Germain, Senior Associate, and Candace Carrell, an investment specialist in Marcus & Millichap’s Las Vegas office.

This single-tenant net-leased Goodwill is located at 7420 South Rainbow Boulevard in Las Vegas, NV.  The buyer was sourced pre-construction during the early stages of development of the Rainbow Place Shopping Center.  Within the center, Goodwill will serve as the anchor tenant in addition to other national tenants, Firestone and AutoZone, who have also opened businesses recently.  “This was the first build-to-suit property for Goodwill of Southern Nevada.  The 16,000 square-foot building has a prime location in the Southwest Submarket of Las Vegas on Rainbow Boulevard just about a mile south of the Beltway,” states Carrell.  “This was a great deal for our client who is a private investor in the process of making the move into retirement.  This acquisition will provide them with a stable, management-free return for many years to come,”  adds Germain.

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About Marcus & Millichap (NYSE: MMI)

With over 1,300 investment 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 over 6,600 transactions in 2013 with a value of approximately $24 billion. The company 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

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