February 4, 2021
Marcus & Millichap has arranged the $1.4 million sale of a 3,404-square-foot net-leased retail property in Bradenton occupied by BB&T bank.
Located at 5312 Cortez Road West in Bradenton, BB&T Bank has three and a half years remaining on their triple-net lease with two, five-year option periods. There are 10 percent rent increases at the start of each option period. The lease is guaranteed by Branch Banking and Trust Company, which has over 1,700 branch locations in 15 states. The property is located directly across the street from Walmart at a signalized intersection on Cortez Road. In addition to Walmart, there are dozens of national retails in the immediate area including Publix, ALDI, CVS, Big Lots, Walgreens, CVS, Hobby Lobby and Bealls.
James Garner, James Medefind and Jim Shiebler of Marcus & Millichap’s Tampa office represented the seller, a private investor, in the transaction. The buyer was also a private investor.