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##### Press Releases
### Marcus & Millichap Arranges The Sale Of A Single-tenant Medical Office In Dearborn, MI
 October 31, 2022
, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of a single-tenant JoAnn Fabrics located in Roseville, MI, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $4,030,000.
Ashish Vakhariya, Seth Haron and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, facilitated the transaction on behalf of the seller. “I am pleased to announce the closing of this single-tenant JoAnn Fabrics in Roseville, Michigan. The asset is well positioned within a dense retail market at a well-trafficked intersection experiencing over 148,800 vehicles per day.” says Ashish Vakhariya, First Vice President Investments & Director, National Retail Group/Net Leased Properties Group. “Our marketing efforts generated more than 10 offers and resulted in a contract to close time frame of 44 days.”
In the past twenty-four months, Ashish Vakhariya, Seth Haron and Darin Gross have sold or have under contract to sell, $145 Million of retail and medical office investment properties throughout numerous states spanning the Midwest and beyond.
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* 248.415.2600
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 October 27, 2022
, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of a single-tenant Quality Roots office building located in Birmingham, MI, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $1,006,000, or $300.03/SF.
Ashish Vakhariya, Seth Haron and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, facilitated the transaction on behalf of the seller. “The tenant is an expanding cannabis retailer with one of the largest menus in the state of Michigan. The company currently has three retail locations, with five more planned to open by 2023. Quality Roots has a partnership venture with Schostak Brothers & Co., one of the largest real estate development groups in the Metro Detroit area.” says Ashish Vakhariya, First Vice President Investments & Director, National Retail Group/Net Leased Properties Group. “Our marketing efforts pulled in multiple offers and resulted in an 18-day contract-to-close with a cash buyer.”
 October 20, 2022
, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of a single-tenant Pizza Hut located in Traverse City, MI, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $1,200,000, or $363.75/SF.
Ashish Vakhariya, Seth Haron and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, facilitated the transaction on behalf of the seller. “The tenant is one of the largest Pizza Hut Franchisees (94-units total). The property is an outparcel to a Lowe’s and well positioned on US-31 (22,439 VPD). The property is also adjacent to the Grand Traverse Mall and other large retailers including Walmart, Home Depot, Kohl’s, Bed Bath & Beyond, and many others. Great Wolf Lodge, a large family resort, arcade and indoor water park, sits less than a mile north of the asset and drives visitors in from all across the state.” says Ashish Vakhariya, First Vice President Investments & Director, National Retail Group/Net Leased Properties Group. “Our marketing efforts resulted in multiple offers and the buyer was sourced within the first 2 days of listing the property for sale.”