HAWTHORNE, FLA., December 13, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a CVS – Ground Lease, a 12,082-square foot net-leased property located in Hawthorne, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $940,000.
James Medefind, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based in Texas. The buyer, a limited liability company from Boca Raton, was procured by Simon Jonna, vice president investments and Brandon Hanna, senior associate, both in the firm’s Detroit office.
The property is located at 900 U.S. Highway 301 in Hawthorne, Florida. This offering includes approximately a 1.50 acre outparcel to a SuperValu and Family Dollar anchored shopping center near the intersection of U.S. 301 and State Road 20. This CVS location is the “go-to” pharmacy for Hawthorne, with the closest competing pharmacy located 15 miles to the west in the city of Gainesville.
“The lack of inventory and sky high demand from buyers were primary causes that allowed us to obtain such aggressive pricing and quick timelines,” says Medefind. “The property sold for full list price and closed less than two weeks from the date we introduced the property to the market.”
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With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.