DALLAS—Marcus & Millichap has completed the sale of an 18-property portfolio of net-leased assets, 12 in Arkansas and six in Texas.
The tenants include Brookshire Grocery Co., Brookshire Brothers, Family Dollar, Fred’s Super Dollar, Napa Auto Parts, O’Reilly Auto Parts, Orscheln Farm and Home, and Pizza Hut. The terms of the sale were not released.
Jason Vitorino, first vice president investments, and Michael Austry, associate, both in Marcus & Millichap’s Dallas office, represented the seller, an Arkansas-based family trust, and the buyer, a publically traded real estate investment trust. CJ Cropper, a senior associate in the firm’s Little Rock office, is Marcus & Millichap’s broker of record in Arkansas.
“We generated multiple qualified offers for this portfolio and closed all cash, above the asking price, in just 25 days,” says Vitorino.
The properties are all well located within their relative submarkets, are double- or triple-net-leased and most are backed by corporate guarantees.
With more than 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.