Dollar General in Newman, California Sells for $3.2MM

Marcus & Millichap, Dollar General, Newman

NEWMAN, Cali., May 21, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Dollar General, a 12,480-square-foot net-leased property located in Newman, California. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,200,000.

Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a personal trust and private investor, was procured by Ruble and Lind. Steve Seligman, regional manager and broker of record in the firm’s Palo Alto office, assisted in closing this transaction.

Built in 2014, Dollar General has a prime location on Newman’s main thoroughfare, Highway 33. The property is surrounded by national retailers and across the street from Nob Hill Foods Anchored Center. It is easily accessible to 18,981 residents within a five-mile radius of the property and remains the only discount/dollar store serving the Newman area. Dollar General is located at 1930 North Street in Newman, California. 

 About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.

West Coast Commercial Real Estate News