Monday, March 10, 2014

Marcus & Millichap Arranges Sale of 11,113-SF CVS Pharmacy in Miami, FL for $4.15 Million


MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of an 11,113 square-foot CVS Pharmacy located on SW 8th Street in Miami, FL. The asset sold for $4,152,000.

Drew A. Kristol
Kirk D. Olson and Drew A. Kristol, Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company located in Coral Gables, FL.

 The buyer, a private investor from Miami, was secured and represented by Paul D. Nudelman, a Senior Associate in Marcus & Millichap’s Miami office. 

“This was a rare opportunity for an investor to purchase an absolute-net leased CVS Pharmacy backed by a corporate guaranteed lease in the very dense West Miami submarket.

“The store benefits from its location on the corner of busy SW 8th Street where it has operated for more than 25 years and has reported historically high sales,” says Kristol.

CVS Pharmacy is located at 6320 SW 8th Street in Miami, FL. 

For a complete copy of the company’s news release, please contact:

Kirk A. Felici
First Vice President/Regional Manager, Miami
(786) 522-7000

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