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Business Observer Wednesday, Jan. 9, 2019 5 months ago

After 15 offers, retail plaza sells for $11.3 million

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Tampa office of Marcus & Millichap brokerrs sale of Morse Shores in Fort Myers for $11.3 million.

FORT MYERS — Morse Shores, a retail plaza in Fort Myers anchored by Big Lots, Citi Trends and Save-A-Lot, has been sold for $11.3 million. 

The 170,811-square-foot retail property is 96% occupied, according to statement from Marcus & Millichap, the firm that listed the property. The plaza is at 4901 Palm Beach Blvd., a primary east-west corridor between downtown Fort Myers and Interstate 75.

“We had a substantial amount of interest on Morse Shores from a wide variety of investors,” says James Medefind, investment specialist for Marcus & Millichap, in the statement. “Private investors, institutional investors and several private equity funds submitted offers. In total, we had 15 offers.”

Medefind and Jim Shiebler listed the property. The buyer, a private investor, was represented by Medefind, the release adds. 

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