LACEY, WA, March 25, 2022– 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 Great Floors Sale/Leaseback | Lacey, WA, a 46,000 SF net-leased property located in Lacey, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $7,400,000.
Clayton J. Brown, Christopher Edwards and Ruthanne Romero, investment specialists in Marcus & Millichap’s Seattle office on the Brown Retail Group team, 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 Clayton J. Brown, Christopher Edwards and Ruthanne Romero.
Great Floors Sale/Leaseback | Lacey, WA is located at 7800 Martin Way E in Lacey, WA. This sales marks the companies fifth successful Sale/Leaseback on behalf of Great Floors LLC. Great Floors recently executed new leases and took these properties to market taking advantage of compressed cap rates and received record prices for all five locations sold. The leases were of interest because the included annual rent increases provided a hedge against rising inflation. “It was a pleasure working with Great Floors leadership on the successful sale of these assets which provided instant liquidity to ownership as well as quality investment real estate assets to passive investors looking for yield and long-term security,” says Clayton Brown, First Vice President in Marcus & Millichap’s Seattle office.
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.