LAKELAND, Fla., Feb. 18, 2022 – 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 Eastside Village, a 76,264-square-foot retail property located at 2630 US Highway 92 E in Lakeland, Florida. The 6.78-acre lot sold for $9,200,000.
Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, Miami-based CF Properties. The buyer was a Miami-based private investor.
“We received multiple offers for Eastside Village, which underscores the high demand in today’s market for well-located grocery-anchored shopping centers throughout Florida,” said Olson, senior vice president of investments.
Eastside Village is anchored by Harvey’s Supermarket, one of three brands in addition to Winn-Dixie which are owned and operated by its parent company, Southeastern Grocers. The property is currently 100% occupied, including nationally known retailers Subway and Dollar Tree.
“Eastside Village has been a very solid investment for our group, illustrated by the fact that the property has not seen a vacancy in more than seven years,” added Spencer Freidman, principal at CF Properties.
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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 8,954 transactions in 2020 with a value of approximately $43 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.