VALRICO, FLORIDA, June 1, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Chick-fil-A, a 4,971-square foot net-leased property located in Valrico, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,275,000.
James Medefind and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, arranged the purchase of the property for a Florida buyer that sought to expand his retail portfolio. James and Jim sought out A+ assets for the buyer who had aspirations to acquire a Chick-fil-A in a burgeoning Florida market. The buyer, a limited liability company, was also secured and represented by James Medefind and Jim Shiebler. “We are extremely pleased for our client who acquired a prime location of the industry-leading quick service chicken restaurant chain. The location is exceptional and is in an affluent area possessing numerous positive property drivers including a corporate guaranteed 15 year lease term. The assets parcel boasts over one acre, is positioned at a signalized intersection, benefits from a large traffic count and is located directly in the path of progress in a busy suburb of Tampa, one of the nation’s fastest growing cities,” says Shiebler.
Chick-Fil-A is located at 2150 Bloomingdale Avenue in Valrico, Florida. The newly built property opened in late 2016 and also benefits by being an outparcel to Walmart and directly being positioned between a newly built Starbucks and Wendy’s.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com