Marcus & Millichap Brokers Sale of Net-Leased Property in Stoneham

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STONEHAM, MA – Marcus & Millichap announced the sale of Midas, a 5,254-square foot net-leased property located in Stoneham, MA.

Thomas Shihadeh, regional manager of the firm’s Boston office, said the asset sold for $1,520,000.

Adam Cohen and Brett Kilar, investment specialists in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured by Adam Cohen and Brett Kilar.

Cohen notes, “The property had been marketed, unsuccessfully, by another firm, before Marcus & Millichap took on the listing. Our marketing efforts generated significant interest in the opportunity, and we fielded multiple offers within the first 48 hours of listing the property, ultimately awarding the deal to a buyer with whom we had transacted several times before.”

Built in 1980, the property is located within Stoneham’s main retail corridor, less than a quarter mile south of Redstone Shopping center, a Marshalls-anchored property which is home to Target, CVS, Michaels, Five Guys, Olympia Sports and many others. Other national tenants in the immediate vicinity include Starbucks, AutoZone, Subway, Burger King, Advance Auto Parts, Dunkin, and the UPS Store.