Marcus & Millichap Arranges Sale of Starbucks and T-Mobile Locations in Michigan

STEVENSVILLE, Mich., Nov. 5, 2024 - 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 4,556 square foot retail property tenanted by Starbucks and T-Mobile in Stevensville, Michigan. The property sold for $2.03 million.

"This investment offering generated national interest, resulting in a sale price of 97% of list price," said John Nuzman, senior managing director investments.

John Nuzman, investment specialist in Marcus & Millichap's Detroit office, had the exclusive listing to market the property on behalf of the seller, TDM Partners, LLC. Chris Prins of DAR Commercial Real Estate represented a local buyer in Michigan.

Located at 4678 Red Arrow Highway, the building hosts two triple-net lease tenants: Starbucks, with seven years remaining on its lease, and T-Mobile, with four years remaining. Built in 2021, the property sits on a 1.1-acre parcel at the Interstate 94 and Red Arrow Highway interchange. Nearby national retailers include Meijer, Burger King and McDonald's.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.