Marcus & Millichap : Arranges Sale of Net-Leased Buffalo Wild Wings in Castle Rock, Colorado

(MMI)   Report
Marcus & Millichap Arranges Sale of Net-Leased Buffalo Wild Wings in Castle Rock, Colorado DENVER, December 21, 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 a Buffalo Wild Wings property located at 4995 Factory Shops Boulevard, Castle Rock, Colorado. The property, sold for $2,525,000 or $399.46 per square foot, is a part of Buffalo Wild Wings new restaurant design, featuring a unique and immersive experience to hang out and watch games. The new design features a dominant bar, indoor/outdoor space, and VIP spaces. The property is strategically located in the Promenade at Castle Rock, adjacent to the Outlets at Castle Rock. Castle Rock is one of the fastest growing cities in the United States, with the population expected to grow by an additional 15.7% over the next five years. Drew Isaac, senior managing director investments, and Ian Hicks, associate in Marcus & Millichap's Denver office, had the exclusive listing to market the property on behalf of the seller, Niki Castle Rock, LLC, a California Limited Liability Company. "The brand-new restaurant property sold to a 1031 exchange buyer and became the lowest cap rate for a Buffalo Wild Wings to sell in the country. A testament to the Castle Rock market, even during these economic headwinds," commented Hicks. About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit URL. Attachments Original Link Original Document Permalink

Disclaimer Marcus & Millichap Inc. published this content on 21 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2022 20:02:04 UTC.

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Mean consensus SELL Number of Analysts 1 Last Close Price 34,18 $ Average target price 26,00 $ Spread / Average Target -23,9%