Sunday, July 12, 2020

Marcus & Millichap Arranges $1.6 Million Sale of Net-Leased Taco Bell Site in Jacksonville, FL


Jim Shiebler


JACKSONVILLE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Marcus & Millichap (NYSE: MMI),, a 2,808-square foot net-leased property located in Jacksonville, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $1,600,000.

Jim Shiebler, James Garner and James Medefind and investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  

James Garner 

The buyer, a limited liability company, was secured and represented by Tom Gommels, an investment specialist in Marcus & Millichap’s Minneapolis office.

“The Medefind Retail team successfully positioned the property in the marketplace to highlight its numerous attractive elements including its ideal location in the center of an extremely dense retail corridor operated by the largest Taco Bell franchisee in Florida,"  stated Shiebler.

"Additionally, we promoted the facts that it is a proven location as demonstrated by its year over year upward trending sales and 18+ year successful operating history. 

James Medefind
This resulted in generating five offers for the property creating a competitive environment.”

Taco Bell is located at 1319 Dunn Avenue in Jacksonville, Fla. This unique property is ideally positioned in the heart of restaurant row.

Additionally, this dense infill, high barrier to entry location is just a half-mile from I-95, the main North/South route of travel through the state of Florida which sees over 70,000 Cars Per Day.

The location is operated by the largest Taco Bell parent operators in Florida and one of the top 10 in the entire U.S.

Tom Gommels
 This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.

 CONTACT:

Chris Travis
Regional Manager
Tampa, FL
(813) 387-4700


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