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Marcus & Millichap Brokers the Sale of a Net-Leased CVS in Sarasota for $4.5 Million

March 23, 2023

SARASOTA, Fla., March 23, 2023 – 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 CVS Pharmacy, a 10,378-square-foot property located in Sarasota, Florida. The asset sold for $4,500,000.

“This is the fourth net-lease property we have traded in the last month with another seven under contract,” said Joseph Prio, a retail division associate in the Marcus & Millichap Fort Lauderdale office. “While the market is softening from rising interest rates, we are still seeing strong demand for net-lease properties here in Florida, especially from out-of-state investors.”

Prio, Alan Lipsky, Barry M. Wolfe, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, FFT Livingstone Investors, Inc. The buyer, a private investor, purchased the property.

CVS Pharmacy is located at 8546 S Tamiami Trail and in a major retail corridor one mile from Sarasota Square Mall anchored by Costco Wholesale, JCPenney, and AMC Theater. Built in 1999 and situated on a 1.61-acre lot, the subject property is nearby many national retailers including Lowe’s, Target, Publix, Kohl’s, and Starbucks.


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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit

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