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| James Medefind |
FORT MYERS, FLORIDA, June 27, 2017 – 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 Applebee's, a 4,942-square
foot net-leased property located in Fort Myers, Florida, according to Ari Ravi, regional manager of the
firm’s Tampa office. The asset sold for $4,852,000.
James Medefind and
Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa
office, had the exclusive listing to market the property on behalf of the
seller, a private investor.
The trophy location, 1.33 acre parcel, massive traffic
count of over 79,000 cars per day and the fact that the restaurant is operated
by a regional powerhouse franchisee were the rare attributes that this
Applebee’s location possessed.
“We accessed and leveraged Marcus and Millichap’s
platform of the nation’s largest buyer pool and paired it with our knowledge of
the local Southwest Florida market,” says Shiebler.
“The buyer, a private investor from Connecticut, was also
secured and represented by our investment team member, James Weldon. He was attracted to the investment because he
recognized that this restaurant property is uniquely positioned in a very
affluent area in one of the densest retail corridors in all of Southwest
Florida,”
Applebee's is located at 8043 Dani Drive in Fort Myers,
Florida. The property was built to suit for Applebee’s in 2005, recently went
through a $450,000 modernization plan and had over 15 years remaining on its
lease. The area is also one of the fastest growing areas in the country and was
voted Top 10 Hottest Real Estate Markets to Watch in 2017 by Forbes Magazine.
For a complete
copy of the company’s news release, please contact:
Ari Ravi
Regional Manager, Tampa
(813) 387-4700
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