Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Capital City Bank and Chili’s, a 7,637 square-foot net-leased property in Inverness, Florida. The property sold for $5,375,000.
“Quality, net leased assets in Florida continue to be in strong demand at favorable cap rates regardless of increasing interest rates,” said Ronnie Issenberg, senior managing director. “We had several buyers competing for this deal and went to contract within a few days of the listing going live. The buyer, Balco Realty LLC, was secured and represented by Issenberg, Gabriel Britti, and Ricardo Esteves, investment specialists in the Marcus & Millichap Miami office. The seller was Corta Inverness LLC, a Miami-based company.
Capital City Bank and Chili’s is located at 800 West Main Street, by State Road 44 and U.S. 41. The property is less than a mile from major retailers and restaurants, including the brand-new Publix Super Market Plaza Inverness, Winn Dixie, and Withlacoochee Technical. The property is about 1 mile from Whispering Pines City Park.
About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
