Marcus & Millichap (NYSE: MMI), a leading Commercial Real Estate Investment Services Firm with offices throughout the United States and Canada, today announced the sale of Safeway (Albertsons Guaranty), a 44,600-square-foot supermarket located in Silver Spring, Maryland. The asset sold for $10,425,000.

Preet Sabharwal and Michael Scali of Marcus & Millichap’s Manhattan office had the exclusive listing to market the property on behalf of the seller. Dean Zang and Joshua Ein of the firm’s Washington office procured the buyer.

“The cap rate on this deal signifies that there is still a strong demand for necessity based retailers despite the negative portrayal painted by the national media” says Scali. “This transaction is evidence that investors are still bullish on necessity based retailers with substantial credit.”

The subject property is situated at the signalized, hard corner intersection of New Hampshire Avenue and Briggs Chaney Road. This intersection sees more than 21,000 vehicles per day and provides direct access to the Nation’s capital city. Safeway located at 15411 New Hampshire Avenue is part of a larger portfolio of Single-Tenant retailers that are being traded throughout the country.

Bryn Merrey, Senior Vice President of Marcus & Millichap acted as the Broker of Record.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed nearly 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com