GOOSE CREEK, S.C. – Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, recently announced the sale of a 2,310-square-foot net-leased retail property tenanted by Wendy’s in Goose Creek. The asset sold for $2.2 million, according to Benjamin Yelm, regional manager of the firm’s Charleston office.
Ani Paulson and Pearce Vogler, investment specialists in Marcus & Millichap’s Charleston office, had the exclusive listing to market the property on behalf of the seller, a private investor.
“Our team had this property on the market for a week before we announced the ‘Best and Final Offer’ deadline. Shortly thereafter, we were under contract for above list price with favorable terms for the seller, who we were exclusively representing,” said Paulson.
“Our aggressive marketing approach enabled us to quickly generate numerous great offers for the property, which created a competitive bidding environment,” he continued. “The buyers were very happy to secure this deal,
since they were in a 1031 transaction with tight deadlines.”
Tenanted by Wendy’s, the property is located at 101 Red Bank Rd. in the Goose Creek submarket of the greater Charleston Metropolitan Statistical Area.
Its significant proximity to Interstate-26 leaves it exposed to approximately 61,600 vehicles per day via S. Goose Creek
Boulevard and 23,100 vehicles per day via Red Bank Road, making its location highly visible.
The property has an absolute triple-net lease with its tenant, meaning Wendy’s is 100 percent responsible
for all expenses, including building structure repairs, for the next 17.5 years. Other nearby national retailers include Publix, Taco Bell, Pizza Hut and Waffle House.
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