Connect Midwest: Multifamily Adaptive & Reuse Trends – Chicago June 13

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Midwest  + Retail  | 
Marcus & Millichap arranged the $35.1-million sale of 22 Arby's restaurants located across Montana and four Midwestern states

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.


Inside The Story

Marcus & Millichap's Issac

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦Sale/Acquisition