NORTH FORT MYERS, FL, July 25, 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 Shoreline Shoppes, a 26,492-square foot retail property located in North Fort Myers, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,600,000.
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. The buyer, a private investor, was also secured and represented by James Medefind and Jim Shiebler.
“We generated multiple offers for the property during our extensive marketing campaign for the property,” says Shiebler. “The buyer was attracted to the center due to the busy traffic count of over 33,000 cars per day, the newer style construction and the fact that the center’s units can be customized to suit virtually any size footprint for a tenant.”
“The buyer plans to revitalize the center and lease up the vacant spaces with additional service based and destination tenants to serve the local community,” added Shiebler.
Shoreline Shoppes is located at 5781 Bayshore Road in North 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