Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Caliber Collision, a 14,900 square foot auto repair shop in Corpus Christi, TX.
Dustin R. Alvino, First Vice President of Investments at Marcus & Millichap’s Las Vegas office exclusively represented the buyer in this transaction. The asset, located at 13130 Leopard St, sold for $4,213,778. The lease includes a brand new 15-year absolute net lease featuring 10% rental increases every 5 years throughout the initial term and options. This is a brand new 2020 construction. This asset is located in a very affluent area, with the average household income within a 3-mile radius exceeding over $100,000. Excellent visibility with over 58,000 vehicles per day off of I-37 and 43,000 off of I-69E.
For more information regarding the sale of Caliber Collision or if you have any other questions relating to net lease investments, please do not hesitate to reach out to Dustin R. Alvino.
Dustin R. Alvino | (702) 215-7120