FORT MYERS, FL, July 18, 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 Taco Bell, a 2,939-square foot net-leased property located in Fort Myers, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,600,000.
James Medefind and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.
With Medefind’s and Shiebler’s efforts, coupled with Marcus & Millichap’s extensive marketing platform, ensured that the property sold at the highest potential strike price. “We generated five offers for the property in a relatively short listing period,” says Shiebler. “Ultimately, an international investor from South America was selected who appreciated the numerous valuable property drivers. Additionally, the submarket’s regentrification efforts and the country’s leading migration levels were also key factors in the investor’s decision to select this Southwest Florida net leased property,” added Shiebler.
Located in the heart of a dense retail corridor, the property is operated by a regional powerhouse franchisee, Coastal QSR, one of Taco Bell’s top 20 franchisees in the country, who has a proven 12 year successful operating history at the location.
Taco Bell is located at 3431 Cleveland Avenue in Fort Myers, Florida.
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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