BOSTON– Marcus & Millichap announced the sale of three net-leased properties anchored by Town Fair Tire in Billerica, Massachusetts; Brockton, Massachusetts; and Nashua, New Hampshire. The properties sold for $7,955,360.
“These net-leased properties continue to attract aggressive private investors seeking long-term growth in cash flow from stable, secure tenancy,” said Alex Quinn, senior associate. “These aggressive cap rates will set a benchmark moving forward into 2025 for single tenant, absolute net-leased retail assets that check all the boxes, such as zero landlord responsibilities and long-term leases with rent bumps backed by corporate guarantees.”
Jim Koury and Quinn represented the seller, Orion Buying Corp. Colliers’ Robert Rohrer Jr. represented the buyer for the Nashua property, while Marcus & Millichap’s Ryan Wilmer, from the San Francisco office, introduced the buyer for the Billerica and Brockton locations. Thomas Shihadeh is the firm’s broker of record in Massachusetts and New Hampshire.
