Marcus & Millichap Inc.
10/05/2026 | Press release | Distributed by Public on 10/06/2026 12:06
Marcus & Millichap Arranges $2.15 Million Sale of Applebee's Property in Marion, Indiana
Press Releases
Marcus & Millichap Arranges $2.15 Million Sale of Applebee's Property in Marion, Indiana
October 05, 2026
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MARION, Ind., Oct. 1, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $2.15 million sale of an Applebee's restaurant property in Marion, Indiana.
"The buyer initially pursued this property as part of a 1031 exchange but ultimately acquired another asset with a higher return at that time," said Spencer Berkley, senior director investments. "Several months later, the buyer entered a new 1031 exchange and revisited the opportunity, remaining attracted to the location and its long-term potential. It took two attempts to complete the transaction, but we stayed engaged with the seller and ultimately got the deal across the finish line."
Berkley, Mark Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap's Phoenix office, in association with Julia Evinger, Marcus & Millichap's Indiana broker of record, represented the buyer, a Phoenix-based 1031 exchange investor, in the transaction. The seller was a Midwest-based developer.
The property is located at 3148 S. Western Ave. in Marion. Built in 1991, the 7,675-square-foot restaurant sits on 1.34 acres. The buyer plans to hold the property as a long-term investment and collect cash flow while retaining the potential to repurpose the real estate in the future should the current tenant vacate.
"The buyer initially pursued this property as part of a 1031 exchange but ultimately acquired another asset with a higher return at that time," said Spencer Berkley, senior director investments. "Several months later, the buyer entered a new 1031 exchange and revisited the opportunity, remaining attracted to the location and its long-term potential. It took two attempts to complete the transaction, but we stayed engaged with the seller and ultimately got the deal across the finish line."
Berkley, Mark Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap's Phoenix office, in association with Julia Evinger, Marcus & Millichap's Indiana broker of record, represented the buyer, a Phoenix-based 1031 exchange investor, in the transaction. The seller was a Midwest-based developer.
The property is located at 3148 S. Western Ave. in Marion. Built in 1991, the 7,675-square-foot restaurant sits on 1.34 acres. The buyer plans to hold the property as a long-term investment and collect cash flow while retaining the potential to repurpose the real estate in the future should the current tenant vacate.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on October 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 06, 2026 at 18:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]