Sunday, October 1, 2017

Marcus & Millichap Arranges $1 Million Sale of Pizza Hut Site in Naples, FL

James Medefind
NAPLES, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of Pizza Hut, a 2,520-square foot net-leased property located in Naples, FL according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,009,000.

James Medefind and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  Pizza Hut is located at 3010 Tamiami Trail East in Naples, FL.  James and Jim generated multiple offers for the property within just two weeks of being on the market. The property sold for 98 percent of list price.

Demonstrating Marcus & Millichap’s international reach, the buyer was sourced from the Netherlands. The investor has targeted the Naples submarket for commercial investment properties and is expanding their Southwest Florida portfolio. The investor selected the property for the irreplaceable Naples real estate with frontage on U.S. Route 41.  The buyer is also pleased with the large annual rent increases and the fact that it is operated by the nation’s largest franchisee.

For more information on this press release, please contact:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700

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