Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a Gulf Station, which is a 3,321 square foot net-leased property located in Covington, GA, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $1,925,000.

Craig Dunkle and Mher Vartanian, net leased investment specialists in Marcus & Millichap’s Philadelphia office exclusively represented the buyer, an investor based out of Harrisburg Pennsylvania, who purchased the property through a 1031 exchange. The listing was marketed on behalf of the seller by Sands Investment Group of Atlanta, GA. Both parties demonstrated skill and perseverance in getting the deal done during this current economic environment.

The Covington Gulf Station is located at 6229 Turner Lake Rd in Covington GA. This location, which was built in 1985 and recently renovated in 2019, sits on 1.45 Acres. Gulf Oil has more than 1,800 branded locations across 36 states, giving it one of the largest brand sales platforms in the industry. Gulf’s well-renowned logo and accompanying signage have a proven track record of attracting new customers and boosting volume. The Gulf Station is operated by Mountain Express Oil Company. Mountain Express Oil Company is a Georgia corporation based in Acworth, GA involved in the wholesale distribution of gasoline, diesel fuels, racing fuels, renewable fuels, oils, lubricants, real estate, quick serve restaurants, and c-store operating businesses throughout the USA. John M Leonard, vice president and regional manager, served as the Georgia broker of record for Marcus & Millichap in this transaction.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.