Marcus & Millichap Inc.
04/02/2025 | Press release | Archived content
Marcus & Millichap Arranges Sale of 10,856 Square Foot CVS Net Leased Property
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Marcus & Millichap Arranges Sale of 10,856-Square-Foot CVS Net-Leased Property
April 02, 2025
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BRANDON, Fla., April 2, 2025 - 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 a CVS net-leased property located in Brandon, Florida. The asset sold for $5,200,000.
"This CVS store was in a free rent period, and the purchaser found the high cap rate and rent credit valuable for their 1031," said Ronnie Issenberg, senior managing director. "The underlying real estate holds great value for future development."
Issenberg, Gabriel Britti and Ricardo Esteves, investment specialists in Marcus & Millichap's Miami office, represented the seller in the transaction, a private family office. The buyer, a long-time area retail developer, was secured and represented by Issenberg, Britti, Esteves and Jonathan Gerszberg from Marcus & Millichap's Fort Lauderdale office.
The 10,856-square-foot CVS built in 2001 is located at 715 W Brandon Blvd. The property is within proximity of numerous apartment complexes and near major institutions including Hillsborough Community College, Rasmussen University, and HCA Florida Brandon Hospital. The area also offers strong foot traffic driven by nearby retail centers and recreational venues like Westfield Brandon Mall and J.C. Handly Sports Complex.
"This CVS store was in a free rent period, and the purchaser found the high cap rate and rent credit valuable for their 1031," said Ronnie Issenberg, senior managing director. "The underlying real estate holds great value for future development."
Issenberg, Gabriel Britti and Ricardo Esteves, investment specialists in Marcus & Millichap's Miami office, represented the seller in the transaction, a private family office. The buyer, a long-time area retail developer, was secured and represented by Issenberg, Britti, Esteves and Jonathan Gerszberg from Marcus & Millichap's Fort Lauderdale office.
The 10,856-square-foot CVS built in 2001 is located at 715 W Brandon Blvd. The property is within proximity of numerous apartment complexes and near major institutions including Hillsborough Community College, Rasmussen University, and HCA Florida Brandon Hospital. The area also offers strong foot traffic driven by nearby retail centers and recreational venues like Westfield Brandon Mall and J.C. Handly Sports Complex.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.