TAMPA, FL—A Boca Raton investor has grabbed the ground lease for a CVS for $940,000. The net leased property is located at 900 U.S. Highway 301 in Hawthorne, FL.
James Medefind, an associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based in Texas. Simon Jonna, vice president of Investments, and Brandon Hanna, senior associate, both in the firm’s Detroit office, secured the buyer.
“The lack of inventory and sky high demand from buyers were primary causes that allowed us to obtain such aggressive pricing and quick timelines,” says Medefind. “The property sold for full list price and closed less than two weeks from the date we introduced the property to the market.”
The offering included a 1.50-acre outparcel to a SuperValu and Family Dollar-anchored shopping center near the intersection of U.S. 301 and State Road 20. Medefind says this CVS location is the go-to pharmacy for Hawthorne, with the closest competing pharmacy located 15 miles to the west in the city of Gainesville.