Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of a CVS Pharmacy in Orlando, Florida. The 13,824-square-foot net-leased property sits on a 1.86-acre lot. The asset sold for $6,250,000.
“The Orlando market is capturing the eyes of trophy location property investors that Miami or Los Angeles would typically attract” said Gabriel Britti, senior managing director in Marcus & Millichap’s Miami office.
“Florida continues to lead the nation in compressed CAP rates for quality, infill, credit tenant net-leased assets. The entire Country’s eyes are focused on Florida not only as a no, income tax state to live in but for their equity’s long-term appreciation” said Ronnie Issenberg,senior managing director. “The demand drivers the Orlando market provides, and the property’s overall real estate fundamentals generated a lot of interest from the investor community. We leveraged the interest to create a multiple offer scenario and are happy of the outcome we were able to achieve for both the seller and buyer” adds Ricardo Esteves, vice president investments Marcus & Millichap’sBritti, Esteves and Issenberg, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company and the buyer.
CVS Pharmacy is located at 3212 Curry Ford Road. The property is within minutes of Downtown Orlando and Orlando Executive Airport. It is surrounded by national retailers including Winn Dixie, Publix and Walmart.
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.
