Marcus & Millichap Brokers the $10.35M Sale of a Shell Gas Station and Firestone Complete Auto Care Center

COCONUT CREEK, Fla., Jan. 24, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a Shell Station, Daily's Convenience store and a Firestone Complete Auto Care center for $10,350,000. The 2.16 Acres (94,090 SF) net-leased properties are located in Coconut Creek, Florida.

Michael Salafia, Gabriel Britti, Ricardo Esteves and Ronnie Issenberg, investment specialists in Marcus & Millichap's Miami office, had the exclusive listing to market the property on behalf of the seller, a multi-billion-dollar public REIT. The buyer, Boca Gas Company, was also procured by Salafia, Britti, Esteves and Issenberg.

"We took a creative approach to deliver a win for both the seller and purchaser. By restructuring the tenancy and lease, we were able to maximize the purchase price for the seller to above market value, while producing an above-market return for the purchaser," said Salafia.

"With a spirit of collaboration, we lead both parties to work together through the intricacies of this complex transaction to achieve their common goal," adds Issenberg.

The Firestone Complete Auto Care center is located at 6350 N State Rd 7, directly adjacent to the Shell gas station and Daily's Convenience store at 6330 US-331 South. Both properties are surrounded by nationally recognized retailers including BJs, Publix, Walmart Super Center, Kohl's, Starbucks, Chick-fil-A and many others.

The properties consist of 8,584-square-feet of gross leasable area in the Walgreens-anchored Regency Lakes Village Center.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.