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| Lori Schneider |
ST. CLOUD, 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 CVS, a 10,908-square foot net-leased property located in St. Cloud,
Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale
office.
The asset sold for $4,300,000 equating to $394 per square foot.
Lori Schneider, a senior vice president investments,
in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing
to market the property on behalf of the seller, a limited liability company
from Mount Pleasant, SC.
“Because the current inventory of new credit net-leased
properties is low, demand for existing properties with shorter lease terms is
rising,” says Schneider who has sold more than 130 drug stores nationwide.
Built in 1999, the 10,908 square foot CVS is located on a
large 2.3 acre parcel and has a double drive-thru.
The lease is guaranteed by Holiday CVS, LLC, a subsidiary of CVS
that was created when CVS acquired the Florida Eckerd locations.
The property is located at 3555 13th St., at the signalized
intersection of 13th Street (Highway 192) and Neptune Road. It is accessible
from both roadways.
For a complete
copy of the company’s news release, please contact:
Ryan Nee
Regional Manager
Fort Lauderdale, FL
(954) 245-3400
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