The Knipp Wolf Net Lease Group of Marcus & Millichap Announces the Sale of an Absolute Net Lease Wells Fargo in Callahan, Florida

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a Wells Fargo in Callahan, Florida according to Tim A. Speck, division manager in the firm’s Dallas office.

Ryan Wolf, First Vice President Investments, and Luke Sullivan, Associate, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller. Ryan Nee, the Broker of Record for Florida, assisted in closing this transaction.

“We effectively educated the Seller on the changing net lease bank environment and successfully communicated the potential risk factors associated with the location,” said Sullivan. “Despite the challenging market conditions, we took this assignment with confidence in our ability to deliver results. Our comprehensive marketing process yielded more than five offers, enabling us to proceed with a local exchange investor who possessed a deep understanding of the site and expressed long-term comfort with it.”

Wells Fargo has operated at this location for more than 32 years and exercised an option in 2020.

Wells Fargo is located at 542196 U.S. Highway 1 in Callahan, Florida, 20 miles from downtown Jacksonville.