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Marcus & Millichap Brokers Sale of Net-Leased Retail Property in West Virginia

Marcus & Millichap has arranged the sale of a 8,500-square-foot retail property in Kenova, W.V. currently net-leased to Dollar General. The sales price was $545,000.

Cole Skinner and Daniel Hurd, investment advisors with the Hurd Net Lease Group of Marcus & Millichap’s Tampa office, represented the seller, a limited liability company, in the transaction. The buyer was a private investor. The property is located at 1313 Oak St.

“We used our national platform to procure an investor out of Florida on this one,” said Skinner. “The fact that he was not local and the current circumstances with traveling created some challenges with the due diligence, but we worked through it and at the end of the day the deal closed on time with no issues. After the closing, both buyer and seller communicated to me how pleased they were with the efficiency of the transaction and that’s what we strive for. We had a great deal team involved on this transaction, which permitted us to successfully close at 98% of asking price.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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