Marcus & Millichap Arranges Sale Of CVS For $6.6 Million

Feb 24, 2015 No Comments by

Marcus & Millichap announced the sale of a 14,129-square foot net-leased CVS located in Lake Worth.

The asset sold for $6,600,000.

Al Palacios, a senior associate in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Suffern, NY.  The buyer was a limited liability company from Miami.

 

“Palm Beach County single-tenant investment opportunities should rise over the next few years alongside retailer expansion,” says Palacios. “The success of some recently built shopping centers will elevate interest in available pad sites, while national chains are expected to track new rooftops into growing suburbs like Lake Worth.”

This CVS includes a double drive-thru, Minute Clinic, and is an out parcel to a 58,000-square foot LA Fitness neighborhood center. The property is situated at the signalized intersection of Lantana Road and Lyons Road with easy access to Interstate 95, Florida’s Turnpike and US-1.

The CVS is located at 8954 Lantana Road in Lake Worth.

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Industry News, NA, Palm Beach County Retail, Retail
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