3788 South Orlando Drive in Sanford, Florida — Courtesy: Marcus & Millichap
By Joshua Burd
Brokers with Marcus & Millichap’s New Jersey office have arranged the sale of a 3,861-square foot Burger King in Central Florida, the firm announced Tuesday.
Associates John Sala and Karly Iacono, who are based in Saddle Brook, represented and secured the private investor who acquired the property, which is located at 3788 South Orlando Drive in Sanford, Florida. Brian C. Hosey, regional manager of the New Jersey office, said the net leased property sold for $1.8 million.
“The buyer was in a 1031 exchange and looking for long-term stability,” Iacono said in a prepared statement. “We were able to help them secure a property that offered a corporate guarantee and rent increases in what is still a supply-constrained net leased market.”
Kirk Felici, a regional manager in Marcus & Millichap’s Miami office, assisted in closing the transaction.