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 Taco Bell (Corporate), a 2,484-square foot net-leased property located in Irving, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.

Vincent Knipp and James W. Pickett III, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor.

“We sold at the market leading cap rate. The tenant extended their lease 10 years during the Covid-19 market disruption. Vince mentioned this was a great location in the heart of the Dallas-Fort Worth Metroplex. It took a couple of tries to find the right buyer, but we were able to secure a qualified buyer and close the transaction,” commented Pickett.

Taco Bell (Corporate) is located at 1025 W Airport Fwy in Irving, Texas. The subject property is a 2,484-square foot, freestanding building that sits on approximately 0.74 acres of land.

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 9,726 transactions in 2019 with a value of approximately $50 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.