Marcus & Millichap completed the sale of a net-leased Best Buy property in Lake Geneva, Wisconsin, for $4.9 million.
“Best Buy has operated at this location since 2008 on a double net lease, making it a strong, long-term investment,” said Jeff Rowlett, senior managing director investments. “Lake Geneva continues to attract strong buyer demand, and we’ve sold numerous retail properties in the area as investor interest remains consistently high.”
Rowlett and Eric Wagner, investment specialists in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, BB Geneva, LLC, and procured the buyer, Agree Central, LLC.
The property, located at 700 N Edwards Blvd., has been occupied by Best Buy since it was built in 2008. The 30,162-square-foot building sits on 3.84 acres and is part of a retail strip center shadow-anchored by Target, with other retailers including Maurices, Mattress Firm and Sally Beauty.
Nominate Commercial Real Estate’s Leading Investment Sales and Leasing Brokers — For the ninth year in a row, Connect CRE will spotlight the industry’s top brokers based on the past year’s achievements. Click here to submit your nominations.
The post Marcus & Millichap Arranges $5M Sale of Best Buy in Wisconsin appeared first on Connect CRE.