BROOKSVILLE, Fla., October 23, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of TruGreen Lawn Care, a 15,000-square foot net-leased property located in Brooksville, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $1,837,500.
James Medefind, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.
TruGreen Lawn Care is located at 1401 Downwind Way in Brooksville, Fla. TruGreen Lawn Care recently renewed their lease for an additional 10 years. There are currently over nine years remaining on the NN lease with one, five-year option period remaining.
The median age and average household income within a three-mile radius of the subject property is approximately 42 years and $67,000, respectively, which are ideal trade area demographics for TruGreen. Many golf courses and neighborhoods surround TruGreen Lawn Care including Trillium of Brooksville Community and Rivard Golf Club.
This location services the northern Tampa Bay MSA, which includes some of the fastest growing suburban markets in the state of Florida. These markets, including Wesley Chapel and Trinity, are experiencing population growth rates in excess of 10 percent year-over-year with an average housing value of more than $400,000.