Press Release – updated: Aug 23, 2017 04:00 PDT
IRVINE, Calif., August 23, 2017 (Newswire.com) – Ron Duong, the top retail agent in Marcus & Millichap’s Newport Beach office, closed escrow on 14 complex NNN investment properties in 11 states including 11 NNN restaurants, 1 NNN drug store, and 1 NNN convenience store.
Amongst the NNN properties sold were a Minnesota zero-cash flow CVS, a Tennessee Church’s Chicken with less than four years remaining on the lease, an Ortho Mattress store at an 5.46% cap rate, a Texas Jack in the Box and Chevron combo store, and a California Circle K property with less than two years remaining on the lease at a 4.73% cap rate. Other notable tenants included Hardee’s, Bob Evans, Bojangles, Dairy Queen, and Wendy’s. Duong’s team co-brokers in these transactions included Craig Elster, Roy Dilekoglu, and Neil Khatib.
In most cases, Duong obtained multiple cash offers through his extensive & aggressive marketing campaign which targeted the highest paying NNN and 1031 exchange buyers throughout the U.S.
Ron Duong, lead broker of the Duong Retail Group is a top agent in Marcus & Millichap’s Newport Beach office. Last year alone Ron closed over $112,000,000 in sales and is on track to double that number in 2017. Ron’s track record of closings represents some of the highest prices and most aggressive cap rates in the marketplace.
About Marcus & Millichap
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
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Source: Duong Retail Group