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| Al Palacios |
LAKE WORTH, FL, Feb. 19, 2015 – Marcus & Millichap
(NYSE: MMI), a leading commercial real estate investment services firm with
offices throughout the United States and Canada, today announced the sale of CVS,
a 14,129-square foot net-leased pharmacy located in Lake Worth, Fla.
The asset
sold for $6,600,000.
Al Palacios, a senior associate in Marcus &
Millichap’s Miami office, had the exclusive listing to market the property on
behalf of the seller, a limited liability company from Suffern, NY. The buyer was a limited liability company
from Miami.
“Palm Beach County single-tenant investment opportunities
should rise over the next few years alongside retailer expansion,” says
Palacios.
“The success of some recently built shopping centers will elevate interest
in available pad sites, while national chains are expected to track new
rooftops into growing suburbs like Lake Worth.”
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| CVS Pharmacy, 8954 Lantana Road, Lake Worth, FL |
This CVS includes a double drive-thru, Minute Clinic, and is
an out parcel to a 58,000-square foot LA Fitness neighborhood center.
The
property is situated at the signalized intersection of Lantana Road and Lyons
Road with easy access to Interstate 95, Florida's Turnpike and US-1.
CVS is located at 8954 Lantana Road in Lake Worth,
Fla.
For a complete copy
of the company’s news release, please contact:
Kirk A. Felici
First Vice President/Regional Manager
Miami, FL
(786) 522-7000
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