 |
| Barry M. Wolfe |
FORT MYERS,
FL, June 2, 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 / Pharmacy, a 12,738-square foot, net-leased property located in
Fort Myers, Fla.
The asset sold for $5,859,200.
Barry M. Wolfe, a vice president investments, and Alan Lipsky, an associate, in Marcus
& Millichap’s Fort Lauderdale office had the exclusive listing to market
the property on behalf of the seller, an individual/personal trust from North
Carolina.
The buyer was a limited
liability company from Wisconsin. This
is the ninth drug store property the agents have sold in the first half of
2015.
“As
drugstores rebalance their portfolios after years of aggressive expansion, the
number of available drug stores for sale becomes limited while demand remains
high,” says Wolfe. “This particular CVS
received a lot of investor interest because of its location in a heavily
populated, busy retail corridor.”
The
12,738-square foot CVS/Pharmacy has a long-term NNN lease with five years
remaining and four, five-year renewal options. Located at 13400 South Cleveland
Avenue, CVS is conveniently located off Tamiami Trail, one of the main roadways
that runs through southwest Florida.
The property is surrounded by many busy
shopping centers as well as national retailers including: Target, DSW,
Starbuck’s, Bed, Bath & Beyond and Costco.
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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