Marcus & Millichap on Monday announced the sale of Einstein Bros Bagels, a 1,800-square foot net-leased property located in Hixson, according to Ryan Nee, vice president/regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,387,500.
Barry M. Wolfe, first vice president Investments, Alan Lipsky, associate, and Blayne Lipman, associate, who are all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, as well as the buyer, an individual/personal trust.
Einstein Bros. Bagels is a bagel and coffee chain in the United States with approximately 800 restaurants carrying the Einstein Bros. name. It is at 5237 Hixson Pike. Einstein Bros. Bagels is located five miles from Chattanooga State Community College and less than 10 miles from the University of Tennessee at Chattanooga and Chattanooga Airport. The building was renovated in 2015. The location is a guaranteed franchise location in operation for approximately 13 months.
Mr. Lipman said, “The seller is a local Chattanooga resident who is rapidly expanding the presence of Einstein Bros. Bagel locations in the area. We were able to source the buyer from California and manage the process through three time zones.”