Marcus & Millichap’s Miami Office Sells CVS For $10.5 Million

Jul 16, 2020 No Comments by

Marcus & Millichap announced the sale of CVS Hialeah Drive, a 12,735-square-foot net-leased property located at 101 Hialeah Drive in Hialeah, according to Scott Lunine, Regional Manager of the firm’s Miami office.

The asset sold for $10,500,000.

Drew A. Kristol, Kirk D. Olson, Ronnie Issenberg and Gabriel Britti, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor.

 

“This particular CVS location had incredibly high store sales and is located in a very dense section of Hialeah.” said Kristol, Senior Vice President Investments in Marcus & Millichap’s Miami Office.

 

“South Florida continues to be a strongly desired market for Net Lease properties for investors throughout the US”, added, Issenberg, Senior Managing Director Investments.

 

“This demand continues to compress CAP rates for credit-tenant, net leased properties,” commented Britti also a Senior Managing Director Investments.

 

 

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Industry News, Miami-Dade County Retail, NA, Retail
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