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| Jim Shiebler |
FORT MYERS,
FL – Marcus & Millichap (NYSE: MMI),
a leading commercial real estate investment services firm with offices
throughout the United States and Canada, has announced the sale of Starbucks
Chipotle, a 4,319-square foot retail property located in Fort Myers, Fla., according
to Chris Travis, sales manager of the firm’s Tampa office. The asset
sold for $3,250,000.
Jim Shiebler, James Garner, James Medefind, investment
specialists in Marcus & Millichap’s Tampa office, had the exclusive listing
to market the property on behalf of the seller, a private investor.
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| James Garner |
“Medefind Retail Group’s proven process of
generating multiple offers and creating and harnessing competition yielded 99%
of list price for the asset.
"The property transitioned from Listing to
Contract in just 8 days by yielding a Miami buyer who appreciated the high
level of corporate credit and exceptional location drivers,” stated Shiebler.
Starbucks Chipotle is located at 10010
University Plaza Drive in Fort Myers, Fla. Both leases for this two-tenant trophy asset have almost four years
remaining on the original 10-year leases and are both corporate guaranteed.
Starbucks and Chipotle have over 30,000 and 2,500 locations around the world, respectively, and both have received AA
credit ratings from Standard & Poors, making this asset an incredibly
stable investment.
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| James Medefind |
About
Marcus & Millichap (NYSE: MMI):
With
nearly 2000 investment sales and financing professionals located throughout the
United States and Canada, Marcus & Millichap is a leading specialist in
commercial real estate investment sales, financing, research and advisory
services.
Founded
in 1971, the firm closed 9,472 transactions in 2019 with a value of
approximately $64 billion. Marcus & Millichap has perfected a powerful
system for marketing properties that combines investment specialization, local
market expertise, the industry’s most comprehensive research, state-of-the-art
technology, and relationships with the largest pool of qualified investors.
To
learn more, please visit: www.MarcusMillichap.com.
CONTACTS:
Chris Travis
Sales
Manager, Tampa
(813)
387-4700
Whitney Davis
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Marketing Coordinator
Certified Agent Support Specialist
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