Marcus & Millichap Closes Sale of Arby’s Portfolio Across Midwest
Marcus & Millichap has finalized the sale of a 22-property Arby’s portfolio located in Iowa, Montana, North Dakota, Nebraska and Wisconsin. The portfolio sold for $35.126 million. The transaction is part of a $52.6-million disposition assignment with 28 properties closed and five currently under contract.
“The sale demonstrates market demand for fundamentally strong net-lease investments by portfolio buyers and individual investors,” said Drew Isaac, senior managing director investments in Marcus & Millichap’s Denver office. “The opportunity arose when a multi-generational Arby’s franchisee decided to exit the business.
“As part of that sale, all new leases were executed with rent set by historical sales and lease terms based on franchisee agreements. Subsequently, the real estate portion of the portfolio was placed on the market.” Isaac and Marcus & Millichap’s Brian Bailey represented the seller.
Marcus & Millichap’s broker of record in Iowa, North Dakota and Nebraska is Jon Ruzicka, and in Montana and Wisconsin, respectively, Adam Christofferson and Todd Lindblom.