NAI Capital’s Mel Moss & Dan Spell Closes $4,120,000.00 Net leased to CVS Pharmacy in Largo, FL.
LARGO, FL – March 20, 2012 – (RealEstateRama) — NAI Capital’s, Mel Moss, Senior Vice President and Dan Spell, Senior Vice President with NAI Capital’s West Los Angeles office represented Voyage-Largo, LLC in the purchase of a net leased CVS Pharmacy located in Largo, FL. The value of transaction was $4,120,000.00.
“Dan and I represented this investor in the purchase of two net leased drug store properties in the last three months which indicates to us that there is a demand for quality net leased properties.” said Mel Moss, Senior Vice President.
Both deals were unique opportunities for the client with the first transaction, Walgreens, offering stellar demographics with a cap rate over 8.2 and the second transaction, CVS Pharmacy, offering a great location and rental increases. The brokers were diligent in tracking every Walgreens and CVS Pharmacy for sale on the market along with sales comps for the last two years. Moss continues, “our ability to provide the client with all of the data necessary to make a truly informed decision was key to these successful transactions”.
For more information contact Mel Moss mmoss (at) naicapital (dot) com or Dan Spell dspell (at) naicapital (dot) com at NAI Capital’s West Los Angeles office at 310-440-8500.
About NAI Capital
NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com. NAI Capital Brokerage DRE #00806840
Contact:
Sharon M. Fitzgerald
Public Relations Manager
(818) 905-2400
sfitzgerald (at) naicapital (dot) com
