Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of CVS Pharmacy a 10,125-square-foot net-leased property located in Norton, Massachusetts. The asset sold for $4,620,000.
“CVS has operated for over 20 years at this strategic location within the small college town,” said Laurie Ann “L.A.” Drinkwater, senior vice president investments. “Their success at this location is evidenced by the recent early extension of their long-term lease. We expect the property to continue performing well for the new owners.”
Drinkwater and Seth J. Richard, investment specialists in Marcus & Millichap’s Boston and Manhattan office, had the exclusive listing to market the property on behalf of the seller, an LLC. Tom Shihadeh, Marcus & Millichap’s Broker of Record in Massachusetts, assisted in closing this transaction.
Constructed in 2000 on 1.54 acres, the CVS Pharmacy is located at 35 W. Main St. within the downtown district directly adjacent to an ACE Hardware and opposite a Walgreens Pharmacy. There are three means of ingress and egress for the property making this location easily accessible. Notable economic drivers in the immediate vicinity include Wheaton College one quarter of a mile away as well as access to Interstate 495 and Interstate 95 leading to Cape Cod, Providence, RI and Boston, MA.
About Marcus & Millichap, Inc. (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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
