INKED: Delisle of Island Associates closes $3.15 million sale with Marcus & Millichap
Updated: Oct 21, 2020
Loganville, GA Roger Delisle of Island Associates Real Estate Inc. has negotiated and closed the purchase and sale of the property located at 185 US Highway 78, for a purchase price of $3.15 million. The site is ground leased to Panera Bread and has been developed with a 4500 s/f Panera Bread store with a drive-thru. The store opened for business in the fall of 2018. The Panera lease has a base term of 15 years plus options, and is a NNN ground lease. The seller was PV-PB Athens LLC, who was the developer of the site for Panera Bread. The purchaser was represented by Island Associates and the seller was represented by Marcus & Millichap.
The purchaser is a real estate owner and operator who owns properties throughout the east coast, and who purchased this property as a replacement property under a 1031 exchange.