Franklin Street Arranges Sale Of CVS-Occupied Retail Property
Franklin Street has arranged the sale of a 14,900-square-foot, single-tenant property in Doral for $7.25 million. The property is fully occupied by CVS, which has an absolute triple-net ground lease.
Franklin Street’s South Florida Investment Sales Team of Greg Matus, Adam Tiktin and Alex Lazo, along with Red Rock Realty’s Norman Matus, arranged the sale on behalf of the seller, Illinois-based Curfin Property US Inc, in the transaction. The buyer is Florida-based Goldenberg Investment Group, Inc.
Built in 2016, the property is directly adjacent to national retailers including Ross, Marshalls, World of Beer, Truist, Miller’s Ale House, Citi Bank, Panda Express and First Watch, among others. Surrounding the retail property are many national hotel chains including Trump National Hotel, Holiday Inn, Marriott, and InterContinental.
Located at 3750 NW 87th Ave., the property occupies 1.09 acres at the highly visible signalized intersection of NW 87th Ave and NW 36th St., which sees an average daily traffic count of over 41,000 vehicles. Further, it is surrounded by local shopping centers including Doral Square Shopping Mall and CityPlace Doral Shopping Mall and is within minutes of Miami International Airport.
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