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Marcus & Millichap Arranges the Sale of a 7,030-Square Foot Net-Leased Property

NAPLES, Fla., February 28, 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 Goodyear Auto Service Center, a 7,030-square-foot net-leased property located in Naples, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,850,000.

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.

“We generated 7 offers for the property through our exclusive listing and marketing process by exposing the asset to the nation’s largest buyer pool. The buyer was a 1031 exchange buyer from Illinois who was trading out of land and into cash flowing retail assets. The investor understood and appreciated the value and growth of the Naples area and was attracted to the ever-changing landscape of new commercial development in the immediate submarket.” Mr. Shiebler stated.

Goodyear Auto Service Center is located at 14275 Collier Boulevard in Naples, Fla. Ideally located on Collier Boulevard, a busy north-south thoroughfare that runs parallel, and eventually intersects with Interstate 75. Collier Boulevard is traveled by 36,500 vehicles per day and is home to many prestigious golf and country clubs such as Forest Glen Golf & Country Club, Cedar Hammock Country Club and Naples Lakes Country Club. Other retailers in the immediate area surrounding the property include AutoZone, Mobil, 7-Eleven, Dunkin' Donuts, Fifth Third Bank, Suncoast Credit Union, Anytime Fitness and Five Guys.

Naples has a population of over 365,000 people. With a convenient location just one and a half hours west of Miami, Naples is a very affluent city known for it's world class fishing, golf and country clubs and average temperature of 75 degrees. It is one of the wealthiest cities in the United States, with the second highest proportion of millionaires per capita in the US, and homes for sale in excess of $40 million.

#CommercialRealEstate #MedefindRetail #PressRelease

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