SHORELINE, WA, April 20, 2021 – 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 O’Reilly Auto Parts, a 16,265-square foot net-leased property located in Shoreline, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $4,575,000.
Carson Breshears and Hank Wolfer, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.The buyer, a limited liability company, was secured and represented by Carson Breshears and Hank Wolfer, O’Reilly Auto Parts is located at 18025 Aurora Ave N in Shoreline, WA. This was a “HUB” location for O’Reilly Auto meaning they distributed to other nearby O’Reilly locations. The tenant has operated at the site since the lease was signed back in 1997 and the corporate guaranteed lease expires in 2028 with several 5-year options to renew.
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 8,954 transactions in 2020 with a value of approximately $43 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.