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 two QuikTrip’s in San Antonio and Austin, Texas.

“QuikTrip’s business model is based on high-volume, prime locations,” said Vincent Knipp, senior vice president investments. “The San Antonio property has direct access to Interstate 35, with more than 165,000 vehicles per day. This was one of the first stores to open in San Antonio and we achieved a premium price.”

Knipp and Anthony Pucciarello, senior associate in Marcus & Millichap’s Dallas office, had the exclusive listing to market both properties on a sale leaseback basis. The buyer of QuikTrip San Antonio, a private investor, was also procured by Knipp and Pucciarello. The 1031 exchange buyer of QuikTrip Austin was secured and represented by Derrick Dougherty, first vice president investments in Marcus & Millichap’s Philadelphia office.

“We received multiple offers on the Austin location, and were able to achieve premium pricing for our client,” said Pucciarello.

QuikTrip Corporation celebrated its 800th store opening in April and continues to expand its store footprint and enter new markets.

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