Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of CVS Ground Lease, a 13,013-square foot net-leased property located in Milton, GA, according to Michael J. Fasano, First Vice President of the firm’s Atlanta office. The asset sold for $2,400,000 and at a 4.4% CAP rate.

Marc Irvin, First Vice President in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a local Atlanta developer. The buyer, a family partnership based in Alabama, was secured and represented by Andrew Chason, First Vice President in Marcus & Millichap’s Mobile office.

“This transaction typifies Marcus & Millichap’s national platform. It has allows agents to collaborate coast to coast with other offices and match the best buyers with the right property. In this case, the buyer was procured from our Mobile, Alabama office,” says Irvin.

CVS Ground Lease is located at 13933 Alpharetta Highway in Milton, GA (Atlanta MSA).

About Marcus & Millichap (NYSE: MMI)

With over 1,800 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 over 9,000 transactions in 2017 with a value of approximately $42.2 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