Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dickeys BBQ, a 3,307-square foot net-leased property located in McKinney, Texas.

Vincent Knipp, senior managing director investments, and Philip Levy, senior managing director investments in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The all-cash buyer was secured and represented by Ryan Wolf, a vice president of investments.

“We received multiple competitive offers on this sale-leaseback, which eventually sold well above the asking price,” said Knipp.

Dickeys BBQ will be subject to a new 10-year lease featuring 10 percent rental escalations every five years. The property sits on 1.01 acres of land and has direct access and visibility on Sam Rayburn Tollway.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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. To learn more, please visit: www.MarcusMillichap.com.