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 CVS Pharmacy, a net-leased property located in Orrville, Ohio. The asset sold for $5,127,327.
“This is a strong performing seasoned CVS location which they agreed to execute a 15-year lease extension upon closing. The buyer was able to benefit from a long-term credit tenant, absolute NNN lease for his 1031 exchange” said Gabriel Britti, senior managing director investments. Gabriel Britti, Ronnie Issenberg, and Ricardo Esteves, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a Florida limited liability company. Michael Glass, broker, in Ohio assisted in closing this transaction.
CVS Pharmacy is located at 415 N Main Street. The property consists of a free-standing building comprised of approximately 12,000 square-feet of retail space and is situated on a large 1.29-acre parcel of land. Strategically located at the hard signalized intersection of High Street and Main Street, the property benefits from its “Main and Main” location along Orrville’s major North-South and East-West thoroughfares.
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.
