GAINESVILLE, Fla., July 20, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Gainesville Wawa, a 5,636-square-foot net-leased property located inGainesville, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $5,744,680.
The buyer, a private investor, was secured and represented by Shawn Rupp, Casey Babb, CCIM and Luis Baez, CCIM.
“Our client was moving from a highly-intensive apartment asset in New Jersey and was looking to emulate a similar return in Florida. Although they own apartments locally, they were looking to transfer the proceeds from their New Jersey apartments into a low stress and no management asset. They chose this Wawa because of its close proximity to Shands Hospital and I75 as well as being located on one of Gainesville’s most trafficked thoroughfares,” said Shawn Rupp.
Gainesville Wawa, newly built in 2020, is located at 2373 SW Archer Road in Gainesville, Fla. Gainesville Wawa is located at 2373 SW Archer Road in Gainesville, Fla. This Wawa is situated on 2.497 acres of land with full access of Archer Road and three ingress/egress access points along Old Archer Road.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap 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.