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| Taco Bell, 8835 Davis Boulevard, Naples, FL |
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| Jim Shiebler |
NAPLES, 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 Taco Bell, a 2,441-square foot net-leased property
located in Naples, Fla., according to Chris Travis, sales manager of
the firm’s Tampa office. The asset sold for $3,300,000.
Jim Shiebler,
James Garner and 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 |
The buyer, a private
investor, was secured and represented by Armond Aivazyan, an
investment specialist in Marcus & Millichap’s Palo Alto office.
“Our team sold
this asset for 99.1% of List Price and went from List to Contract in just 15
days," said Shiegler.
"Marcus
& Millichap’s platform and exposure yielded a buyer from Colorado which was
sourced from a Marcus & Millichap broker in California.
"This is
yet another example Marcus & Millichap’s unparalleled access and exposure
to the largest national investor pool and how we leverage this platform to
yield the highest prices for our sellers.
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| James Medefind |
"The
ultimate purchaser recognized the strong core real estate fundamentals and
property facts including that the property is ideally located adjacent to
79,000 average daily traffic count, boasts a 6.35% blended cap rate over the
base term, is operated by a top 10 Taco Bell franchisee in the U.S., is ideally
positioned next to McDonald’s and is surrounded by four large hotels.”
Taco Bell is
located at 8835 Davis Boulevard in Naples, Fla. The property is perfectly situated in the epicenter of
this highly desirable retail and dining destination.
In the immediate area surrounding the subject
property, there are numerous retail and hotel developments under construction
which ensures enhanced positioning of this property to appreciate in value in
the future.
For
$3,330,000, this asset provides an investor a rare opportunity to purchase a
true pride of ownership asset in a highly desired and world-famous township.
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| Chris Travis |
Naples is a principal city of the Naples-Marco Island, Florida MSA, which has a
population of 322,000+. With a convenient location in Southwest Florida,
Naples
is known for its world-class fishing and average annual temperature of 75
degrees.
It is one of the wealthiest cities in the
United States, with the second-highest proportion of millionaires per capita in
the United States.
CONTACT:
Davis, Whitney
Whitney.Davis@marcusmillichap.com
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