Marcus & Millichap Brokers $8.5M Sale Of Net-Leased Gas Station, Convenience Store In South Florida
The property comprises 8,599 square feet on 1.11 acres and was built in 1993. It is occupied by Shell and Dunkin’.
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The property comprises 8,599 square feet on 1.11 acres and was built in 1993. It is occupied by Shell and Dunkin’.
The new Weston location is near the company’s existing 64,000-square-foot headquarters in Miramar.
The expansion brings Garmin’s total footprint within the Park to approximately 364,606 square feet.
The new division is led by Director of Commercial Real Estate Shane McCain.
“Lincoln Road is experiencing one of the most exciting periods of growth and reinvestment in its recent history,” said Lyle Stern, president of the Lincoln Road Business Improvement District.
The property is currently 100% occupied by two tenants.
JLL Capital Markets’ Debt Advisory team representing the borrower was led by Managing Director Max La Cava, Associate Justin Ratcliffe and Analyst Abbie Kushner.
The purchase price works out to roughly $308 per square foot.
The property is anchored by two charter schools, which comprised approximately 86% of the leased space at the time of sale.
Transwestern’s Carlos Gaviria and Walter Byrd represented the owner, Link Logistics, in the transactions, which range from 27,086 to 61,724 square feet.
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