$1.7 Million Sale of Pep Boys in Spring Hill, FL Brokered by Marcus & Millichap

Pep Boys, 14690 Spring Hill Drive, Spring Hill, FL

SPRING HILL, 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 Pep Boys, a 5,546-square foot net-leased property located in Spring Hill, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $1,700,000 equating to $307 per square foot.

Barry M. Wolfe, first vice president investments, and Alan Lipsky, associate, both 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 Clearwater, Fla.

Barry M. Wolfe

 The buyer, an individual/personal trust from Coconut Grove, Fla, was secured and represented by Paul D. Nudelman, senior associate, in Marcus & Millichap’s Miami office. 

“We received strong investor interest in Pep Boys’ locations recently marketed,” says Wolfe.  “Currently we have two additional Pep Boys locations scheduled to close.  It is evident that many investors are confident with investing in Pep Boys.”

Pep Boys is newly constructed and opened in September 2015.  The property is located in a busy retail area with surrounding national retailers, and is adjacent to Brooksville-Tampa Bay Regional Airport.

Pep Boys is located at 14690 Spring Hill Drive in Spring Hill, Fla. 

For a complete copy of the company’s news release, please contact:

                            

Ryan Nee

Regional Manager,

 Fort Lauderdale, FL

(954) 245-3400