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Marway Circle property sells for $3.3 million

Marway Circle property sells for $3.3 million

The property that houses Service King at 73 Marway Circle has been sold for $3.3 million. (Photo by Kevin Oklobzija)

A commercial property on Marway Circle in Gates has changed hands for the first time in nearly three decades.

J. Fonzi Realty Corp. sold 73 Marway Circle to Middlebelt Westland LLC of Troy, Mich., for $3.3 million on Wednesday, according to documents filed with the Monroe County Clerk’s office.

The property is leased to Service King, a national collision repair franchise, with approximately 10 years remaining on the 15-year lease, according to the sales listing.

With 16,825 square feet of space, the six-bay building was purchased by J. Fonzi Realty Corp. for $700,000 in 1995 as the home of Gates Automotive.

Jim Fonzi, founder and owner of Gates Automotive, sold the business to Service King in 2017 but continued to own the building as landlord to the collision repair shop.

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