August 14, 2013
Ackerman & Co. Sells Two Net-Leased CVS Stores in Florida for $14 MM
Atlanta, August 14, 2013 – Ackerman & Co.’s Jason Powell and Andrew Murphy are pleased to announce the sale of two net-leased CVS properties in Florida for nearly $14MM. These transactions mark the ninth and 10th net-leased CVS or Walgreens sold in the past 12 months.
The first CVS property, located in Dade City, Fla. traded for $5,740,500. The property sold to an all-cash, 1031-exchange buyer within 10 days of contract execution. The buyer was represented by Patrick Whitney of the Marcus & Millichap Dallas office.
The other CVS, located in Fort Myers, Fla. sold for $8,180,000. The property sold to an affiliate of New Jersey-based Roebling Investment Company. The sale included the buyer’s assumption of the current CMBS loan. The buyer was represented by Ray Yung of the Minneapolis firm of Calhoun Companies.
– About Ackerman & Co. –
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 30 million square feet of office, medical, retail and mixed-use space, has nearly 4 million square feet under management, and maintains an investment portfolio valued at $750 million.
For more information on Ackerman & Co., visit www.ackermanco.com