FORT MYERS, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Wachovia - Wells Fargo - Ground Lease, (bottom left photo) a 6,245 square foot single-tenant net-leased property located in Fort Myers, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.The asset commanded a sales price of $1,750,000.
Ron Schultz, (top right photo) an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a national developer. The buyer, a private investor in a 1031 exchange, was also secured by Mr. Schultz.
Schultz utilized the firm’s national marketing platform to procure multiple offers for this asset.“Buyers are scrambling to safer deals like the Wachovia-Wells Fargo ground lease in Ft. Myers and they are willing to compete”.
“The seller achieved a very aggressive cap rate and a quick close, despite the economy. Buyers are active and deals are still getting done” states Schultz.
Wachovia-Wells Fargo Ground Lease is located at 11801 Palm Beach Boulevard.
Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700
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