TACOMA, WA, January 4, 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 Young’s Market Company | Corporate Guaranty, America’s largest wholesale spirits distributor, a 6,703-square foot net-leased property located in Tacoma, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $2,000,000.
Clayton J. Brown and Ruthanne Romero, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a private investor, was secured and represented by Clayton J. Brown and Ruthanne Romero, Young’s Market Company, America’s largest wholesale spirits distributor is located at 6249 Tacoma Mall Blvd in Tacoma, WA. The Property is located alongside I-5 with excellent visibility to over 200,000 VPD. This location serves as a strategic distribution location for Young’s Market Company in the Pierce and Thurston County markets. The Property featured a recent 5-year lease extension from Young’s Market with 3% annual rent increases showing their long-term commitment to this site.
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.