IPA Arranges $29.5 Million Sale of 140,082-Square-Foot Single-Tenant Portfolio 

by Hayden Spiess

Jacksonville, Fla. and Barnstable, Mass. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the $29.5 million sale of a 140,082-square-foot portfolio comprising three single-tenant retail properties. Two of the properties, a 122,358-square-foot store occupied by BJ’s Wholesale and a 7,974-square-foot building occupied by Napa Auto Parts, are located in Jacksonville, Florida. CVS/pharmacy occupies the third property, which totals 9,750 square feet in Barnstable, Massachusetts. Steven Siegel of IPA represented the undisclosed seller and secured the institutional buyer. Ryan Nee and Thomas Shihadeh are Marcus & Millichap’s brokers of record in Florida and Massachusetts, respectively. 

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