Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 2,014-square-foot retail property tenanted by Chipotle in Cartersville, GA. The asset sold for $2,858,471 at a 4.25 percent cap rate, according to John M. Leonard, regional manager of the firm’s Atlanta office.

Tim Giambrone, an investment specialist in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a developer. Giambrone also secured and represented the buyer, a private investor.

Tenanted by Chipotle, the property is located at 405 E. Main St in Cartersville, GA. E. Main Street is the primary commercial corridor in the city of Cartersville, which boasts traffic counts exceeding 21,910 vehicles per day. The street also connects to Interstate 75, which feeds to downtown Atlanta and Chattanooga, TN.

“There is an excess of capital chasing a limited supply of decent net-leased deals. This buyer was willing to step up and pay market price in this very competitive environment in order to add a quality property to his portfolio,” said Giambrone. “We went from contract to close in less than 45 days, without any hiccups. Such is the market we find ourselves in 2021.”