Marcus & Millichap Brokers $2.5 Million Popeyes Site Sale in Fort Pierce, FL

Debra L. Franklin

FORT PIERCE, FL, Aug.13, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Popeyes - Fort Pierce, FL, a 2,265-square foot net-leased property located in Fort Pierce, FL, according to Ryan Nee, regional manager of the firm’s Miami office. The asset sold for $2,528,486.

 Justin R. Sturdivant

Debra L. Franklin, First Vice President Investments in Marcus & Millichap’s Miami office and Justin R. Sturdivant, Senior Investment Associate in Marcus & Millichap’s Nashville office had the exclusive listing to market the property on behalf of the seller, a developer. 

Ryan Nee

“New Construction QSR with long-term absolute net leases in the State of Florida remain an asset class that attracts strong demand from 1031 Exchange Buyers, as well as private investors," said Franklin. 

"This investment opportunity went under contract while still under construction with a ten-day Inspection Period and closed escrow within a few days of receipt of CO.”   

The 3400-unit Popeyes brand demonstrated their strength to adapt to the needs of their consumers during the pandemic with same stores sales rising nearly 29% in the U.S. in quarter ending June 30.

  Recent post we loved from Popeyes Market Director - “Popeyes has been bullet proof during these unprecedented times.”

Popeyes - Fort Pierce, FL, 4946 South 25th Street

CONTACT:

Daniella Aragon
Daniella.Aragon@marcusmillichap.com

www.MarcusMillichap.com.