 |
| James Medefind |
BRADENTON, 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 Pharmacy, a
11,200-square foot net-leased property located in Bradenton, Florida, according
to Richard D. Matricaria, regional manager of the firm’s Tampa office. The
asset sold for $4,745,000.
James Medefind,
senior associate in Marcus & Millichap’s Tampa office, had the exclusive
listing to market the property on behalf of the seller, a private
investor. The buyer, a private investor,
was secured and represented by Chris Adams, associate in the firm’s Dallas
office.
Built in 2003, this
freestanding, 11,200-square foot CVS Pharmacy is located at 520 First Street
West in Bradenton, Florida and sits on 1.21 acres. Located on the main
thoroughfare of U.S. Highway 301 leading to Manatee Memorial Hospital, the
property benefits from a traffic count of over 59,000 vehicles per day.
This net-leased property
is guaranteed by CVS Corporation and has over eight years remaining on the
lease term providing an ideal long-term investment for the buyer. Due to its
location across from Manatee Memorial Hospital and downtown Bradenton, this
property received a lot of positive feedback and interest from the marketplace.
“In total, we were
successful in generating more than five offers after just seven days of
marketing,” says Medefind. “Our national platform and marketing strategy
enabled us to generate offers from all over the country, and the asset’s
proximity to the Tampa market and high quality location within the Bradenton
market made a very attractive investment, despite the shorter lease term.”
For a complete copy of the company’s news release,
please contact:
Richard D. Matricaria
Vice President/Regional
Manager
Tampa, FL
(813) 387-4700
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