$2M Sale | Jiffy Lube Multicare Portfolio – Wenatchee, WA
$2m Sale | Jiffy Lube Multicare Portfolio – Wenatchee, Wa
A leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Starbucks, a 1,980-square foot net-leased property located in Auburn, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $1,785,000.
Clayton J. Brown and Ruthanne Romero, investment specialists for Brown Retail Group, exclusively represented the seller, a limited liability company. The buyer, a limited liability company and repeat client of Marcus & Millichap’s Brown Retail Group, was secured and represented by Clayton J. Brown and Ruthanne Romero.
Starbucks is located at 1436 Auburn Way S in Auburn, WA, a busy intersection a short drive down the street from the Muckleshoot Casino. Starbucks has been at this location since 2007 and performed an early 10-year lease extension in 2017 showing their long term commitment to this location.
Testimonial
“Clay Brown and Ruthanne Romero from the Brown Retail Group of Marcus & Millichap represented us in the sale of our two Jiffy Lube properties located in Wenatchee, WA, which we wanted to sell together to facilitate a 1031 exchange. Clay and Ruthanne were able to source multiple serious Buyers. The first Buyer’s 1031 exchange didn’t go through, but since we had backup Buyers ready, they were able to put another group under contract without skipping a beat. Clay and Ruthanne were proactive, positive, and in regular communication with us throughout the process. Their knowledge of the Wenatchee market and their access to Buyers throughout the nation led to the successful closing of the properties at list price. We would recommend the Brown Retail Group to anyone looking for a professional and capable team. I want to add that I chose them after an unsuccessful listing agreement where the only offers I received were for one store. They quickly found buyers for both stores. Highly satisfactory experience.”
-James & Marcus LLC, Seller
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. To learn more, please visit: www.MarcusMillichap.com.