Marcus & Millichap to Market Net-Lease Portfolio
ByMarcus & Millichap has been selected by a West Virginia-based development company to secure a buyer for a group of 17 net-lease properties. Consisting of drugstores and discount stores, the approximately 200,000-square-foot portfolio carries a price tag of roughly $77.3 million.
With locations in smaller towns in Ohio, New York and Pennsylvania, the collection of retail assets is headlined by Rite Aid, which occupies 14 of the single-tenant properties. Family Dollar’s name is on two of the properties and CVS rounds out the group with one store. “This portfolio presents investors with an almost entirely passive income stream as 12 of the 17 assets carry triple-net leases, and the remaining five properties hold double-net leases,” Gabriel Britti, first vice president of investments with Marcus & Millichap, said in a prepared statement…
