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August 3, 2020 Comments Off on Marcus & Millichap Brokers $6M Sale of Net-Leased Retail Property in Gainesville Views: 686 Florida News, North Florida, Top Florida

Marcus & Millichap Brokers $6M Sale of Net-Leased Retail Property in Gainesville

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Marcus & Millichap has brokered the $5.7 million sale of Gainesville Wawa, a 5,636-square-foot, net-leased retail property in Gainesville.

Located at 2373 SW Archer Road, the property was built in 2020 and is situated on more than two acres of land. Shawn Rupp, Casey Babb and Luis Baez of Marcus & Millichap represented the buyer, a private investor, in the transaction. The seller was not disclosed.

“Our client was moving from a highly-intensive apartment asset in New Jersey and was looking to emulate a similar return in Florida,” said Rupp. “Although they own apartments locally, they were looking to transfer the proceeds from their New Jersey apartments into a low stress and no management asset. They chose this Wawa because of its close proximity to Shands Hospital and I-75 as well as being located on one of Gainesville’s most trafficked thoroughfares.”

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