89 Elm St. in Enfield, Connecticut — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has sold a net-leased Dunkin’ Donuts property in northern Connecticut for $1.7 million, in a transaction arranged by Marcus & Millichap’s New Jersey office.
Karly Iacono, a first vice president, investments, based in Saddle Brook, represented the unnamed seller of the 2,619-square-foot property at 89 Elm St. in Enfield. She also secured the buyer, with assistance from John Krueger of Marcus’ Connecticut office.
“The fact that we had multiple competitive offers on an asset with only six years of firm term remaining speaks to the demand for quick serve restaurants with drive-throughs,” Iacono said. “The quality of the underlying real estate was also a driver of the low cap rate.”