02/13/2026
Congratulations on the sale of CVS Island Plaza, Marco Island, Florida on Bald Eagle Drive and collier Boulevard.
Congratulations to my buddy Steve Eaheart who still works for Hendricks group of companies but is now the president of ABC Roofing supplies real estate department and Diane Hendricks of Hendricks Commercial Properties on the acquisition of Marco Island CVS Plaza, located on Bald Eagle Drive. Although I was not involved in the 2025 sale, I did facilitate the sale of the property to Diane Hendricks in 2012.
At that time, I represented the buyer Diane Hendricks and brought this exceptional opportunity to the Hendricks team, resulting in a successful transaction.
The property, previously managed by a local retired owner, was privately held and presented a valuable investment opportunity. Notably, I had submitted competing offers on the property in 2024 and January 2025, but ultimately, another party was selected. I am delighted that the Hendricks team acquired the property, given our prior relationship and their appreciation for its value. In 2012, I sold the property for $12,500,000, a remarkable price that reflected a higher-than-average cap rate for Collier County at the time.
The transaction was one of the largest sales in Collier County that year, following the Great Recession.
I commend the Hendricks team for their diligence and investment acumen, which yielded significant returns for their investors. Interestingly, the property has a rich history, dating back to its origins as an Eckerd Drugs location, with the lease still tied to Eckerd when CVS acquired the chain in 2004.
After changing hands, the property appears to have returned to local ownership, ensuring the continued presence of CVS on Marco Island. This outcome highlights the potential for value-added investments in Southwest Florida's non-institutional properties, particularly those with unique histories and strong market positions. If you are considering acquisitions in Southwest Florida, please feel free to contact me for referrals and resources. www.CRENaples.com