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Marcus & Millichap Arranges the Sale of a 49,193-Square-Foot Retail Property

CAPE CORAL, Fla., October 11, 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 Towers II, a 49,143-square foot retail property located in Cape Coral, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $8,300,000.

Jim Shiebler, James Garner and James Medefind 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 Jim Shiebler, James Garner and James Medefind.

Towers II is located at 2708 Santa Barbara Boulevard in Cape Coral, Fla and is fully stabilized at 89 percent occupancy. Many of the major tenants have occupied this space since the center's inception in 2010 and net leases ensure reimbursements of expenses.

Towers II provides an investor the opportunity to purchase a truly rare investment property that is incredibly located adjacent to Main and Main. This property is positioned directly across the street from the brand-new Lucky's Supermarket, projected to be completed in fall 2019, Publix Supermarket, Target, and Lowe's.

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