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Eckerd Store Sells for Close to $3M

OPA LOCKA, FL-At a time when retail properties have been strong investments, RMS Properties III LLC paid Cross Realty Inc. close to $206.35 per sf for the 12,600-sf building here. The property was built in 1997.

By Melissa Bogdany | Updated on July 02, 2004

OPA LOCKA, FL-RMS Properties III LLC has purchased a 12,600-sf Eckerd drug store here for $2.6 million–or approximately $206.35 per sf. The seller of the building, located at 4700 N.W. 183rd St., was Cross Realty Inc., based in Boca Raton, FL. Built in 1997, the single-tenant building is 100% leased to Eckerd, which CVS recently purchased. Joel Kattan, Alan Kaye and Lee Brushingham of Sperry Van Ness Commercial Realty represented Cross Realty in the transaction. Keith Kidwell, also of Sperry Van Ness, represented RMS Properties III, based in Chicago.”Retail properties are a very strong investment right now, and they have become a product of choice for many investors,” Kattan says in a statement. “This is … located in a highly desirable area of Opa Locka.”

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