Real Estate

CVS Pharmacy Sells in Venice

The 12,946-square-foot property was sold to a private investor for $3 million.

By Staff August 26, 2019

Image: Shutterstock

Marcus & Millichap (NYSE: MMI), a commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of CVS Pharmacy, a 12,946-square foot net-leased property in Venice, according to Justin W. West, vice president and regional manager of the firm’s Orlando office. The property sold for $3 million; the buyer, a private investor, was secured and represented by Casey Barker, an investment specialist in Marcus & Millichap’s Orlando office

The CVS Pharmacy is located at 3520 Laurel Road E., a rapidly growing part of Sarasota County. It has 16 years remaining on its original lease, with six five-year options to renew. The lease is guaranteed by CVS Health Corporation. 

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