Rochester, NY | May 30, 2018 – Marcus & Millichap, the nation’s largest real estate investment services firm, has announced the sale of Chick Fil A, the first in the Rochester, NY market.
Agents Preet Sabharwal, Michael Scali & Caroline Tierney secured the exclusive listing to market the property on behalf of the seller.
This transaction proves the growth & strength of the Rochester MSA. A privately held company, such as Chick Fil A, known for its’ strategic development and rock-solid credit would never enter a market that it did see significant upside in. Tierney says, “On a more macro economic level, the transaction proves that retail is very much alive. The “outdated” shopping mall model may be struggling, but the “amazon-proof” retailers of the net lease world are the new necessity-based.”
Further indication of an expanding market, the buyer turned out to be a private 1031 investor based out of California.
The Chick-Fil-A is located at 2120 West Ridge Road. Officially opened in Early 2018, to an extremely receptive market.
January 3, 2019