The Knipp Wolf Net Lease Group of Marcus & Millichap Closes the Sale of a Triple-Net Lease EZPAWN in Houston, Texas

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a triple-net lease EZPAWN in Houston, Texas according to Tim A. Speck, division manager in the firm’s Dallas office.

Vincent Knipp, Senior Managing Director Investments, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private developer.

“Sometimes you just find the perfect buyer for a deal,” said Knipp. “The buyer was local, knew the site well, and wanted the deal. Once they were able to review the lease it was a straightforward closing.”

The property traded at an aggressive cap rate amid rising interest rates and inflation.

“It’s all about market timing and finding a motivated buyer,” said Knipp.

EZPAWN is a brand under EZCORP, Inc. (NASDAQ: EZPW), the second-largest pawn shop operator in the U.S. with 1,148 Stores. The Tenant has operated at this location for more than 29 years.

EZPAWN is located at 803 Uvalde Road in Houston in Texas.