Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Dunkin' Donuts/Baskin Robbins, a 2,457-square foot net-leased property located in Cypress (Houston MSA), Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
Philip Levy, Senior Managing Director Investments, and Brandon Karr, First Vice President Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, an individual/personal trust, was secured and represented by Steve Sauter, Senior Managing Director Investments in Marcus & Millichap’s Palo Alto office.
Dunkin' Donuts/Baskin Robbins is located at 7017 Barker Cypress Road in Cypress (Houston MSA), Texas. The subject property is an out parcel to a Kroger anchored retail center at the intersection of Barker Cypress Road and FM 529. Numerous national and regional retailers are in the neighboring area including Ace Hardware, GNC, Little Caesar’s, T-Mobile, Subway, Chase Bank, Burger King, Bank of America, Spec’s, McDonald’s, Kohl’s, LA Fitness, Planet Fitness, Taco Bell, Wendy’s, CVS, Waffle House and more. Langham Creek High School is approximately half of a mile east of the property. The surrounding area has excellent demographics, with a dense population of over 281,500 residents within five miles and an average household income exceeding $88,600.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 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 over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company 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
