{"id":17757,"date":"2026-03-02T19:40:24","date_gmt":"2026-03-03T01:40:24","guid":{"rendered":"https:\/\/1reason.com\/re\/saggio-realty-announces-milestone-linked-to-sale-of-marco-islands-cvs-anchored-plaza\/17757\/"},"modified":"2026-03-03T13:40:24","modified_gmt":"2026-03-03T19:40:24","slug":"saggio-realty-announces-milestone-linked-to-sale-of-marco-islands-cvs-anchored-plaza","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/saggio-realty-announces-milestone-linked-to-sale-of-marco-islands-cvs-anchored-plaza\/17757\/","title":{"rendered":"Saggio Realty Announces Milestone Linked to Sale of Marco Island\u2019s CVS-Anchored Plaza"},"content":{"rendered":"<div>\n<p align=\"center\"><img loading=\"lazy\" alt=\"Saggio Realty Announces Milestone Linked to Sale of Marco Island&#x2019;s CVS-Anchored Plaza\" height=\"449\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"margin-left:auto;margin-right:auto\" width=\"799\" class=\"lazyload\" data-src=\"https:\/\/pressranger.s3.us-west-1.amazonaws.com\/3070435\/cvs-marco-overhead.jpg\"><\/p>\n<p align=\"center\">CVS Anchored Island Plaza<\/p>\n<p>Saggio Realty was NOT the broker on this recent transaction for 2025.<\/p>\n<p><strong>Mike Rivera<\/strong> was Hendricks broker <strong>on the 2013 acquisition sale<\/strong>. The transaction ranks among the most impressive commercial real estate investment outcomes in Southwest Florida for 2025 as it was in 2013.<\/p>\n<p>Case study:<\/p>\n<p>The property was originally acquired in a <strong>private, off-market sale in 2013<\/strong>, brokered by <a href=\"https:\/\/www.CreNaples.com\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\"><strong>Mike Rivera of Saggio Realty<\/strong><\/a>,for <strong>$12,500,000<\/strong> the Largest Real Estate Transaction during the Great Recession at that time. In cooperation with Hendricks representative <strong>Steve Eaheart<\/strong>. The long-term performance of the asset demonstrates the strength of disciplined ownership, strategic tenancy management, and patient capital in a high-demand sub 5 cap Naples Florida coastal market.<\/p>\n<p><strong>Exceptional Cash Flow &amp; Long-Term Returns<\/strong><\/p>\n<p>At acquisition, Island Plaza delivered a value add, strong and stable income profile supported by national-credit tenancy. According to historical operational files, the center produced:<\/p>\n<p><strong> FIRST-YEAR NET OPERATING INCOME (NOI)<\/strong><\/p>\n<p><strong>Just under $995,000<\/strong><\/p>\n<p>This NOI level positioned the asset among the strongest-performing retail holdings on Marco Island at the time of purchase.<\/p>\n<p>Over Hendricks\u2019 12-year hold, the center remained consistently leased, benefitting from sustained tourism-driven demand, tenant stability, and strategic improvements. The resulting investment performance was outstanding:<\/p>\n<p><strong> Investment Performance Summary<\/strong><\/p>\n<ul>\n<li>  <strong>Acquisition:<\/strong> $12,500,000 &#8211; 7\/2013 (private, off-market)  <\/li>\n<li>  <strong>CAP Rate Year one : 7.9%<\/strong>  <\/li>\n<li>  <strong>Exit Sale Price:<\/strong> <strong>$26,600,000<\/strong>  <\/li>\n<li>  <strong>Equity Multiple:<\/strong> <em>Approximately 2.5\u00d7 the original investment<\/em>  <\/li>\n<li>  <strong>Estimated 12-Year IRR Range:<\/strong> <strong>9% \u2013 13%<\/strong>, highly competitive for a stabilized coastal Florida retail asset  <\/li>\n<li>  <strong>Tenancy:<\/strong> Anchored by CVS Pharmacy,Bealls supported by national &amp; regional retailers  <\/li>\n<\/ul>\n<p>This 12-year return profile exceeds the long-term average for U.S. retail investments held through multiple market cycles, including the 2008\u20132020 recovery period and post-pandemic market normalization.<\/p>\n<p><strong>Statement From Saggio Realty<\/strong><\/p>\n<p><em>&#8220;It was an honor to facilitate the original off-market transaction and to see the exceptional long-term results Hendricks achieved with Island Plaza,&#8221;<\/em> said <strong>Mike Rivera<\/strong>, Commercial Broker at Saggio Realty. <em>&#8220;This asset remained one of Marco Island\u2019s most resilient and consistently performing retail centers, and Hendricks\u2019 stewardship produced an extraordinary outcome for their investors.&#8221;<\/em><\/p>\n<p><strong>About Island Plaza<\/strong><\/p>\n<p>Island Plaza is a premier Marco Island commercial destination featuring national-credit tenants including <strong>CVS Pharmacy<\/strong>, along with a mix of retail, service, and daily-needs tenants. Its location at Marco Island\u2019s busiest commercial intersection positions it as one of the city\u2019s most strategically valuable retail centers.<\/p>\n<p><strong>About Hendricks Commercial Properties<\/strong><\/p>\n<p>Diane Hendricks oversees one of the nation\u2019s leading privately held real estate portfolios through her leadership behind Hendricks Commercial Properties. The firm specializes in long-term ownership, redevelopment, and high-performance operation of mixed-use, retail, industrial, and adaptive-reuse assets across the United States.<\/p>\n<p><strong>About Saggio Realty<\/strong><\/p>\n<p>Saggio Realty is a Southwest Florida brokerage specializing in commercial investment property, development land, multifamily assets, and income-producing real estate. With over <strong>35 years of experience<\/strong>, broker <strong>Mike Rivera<\/strong> represents institutional investors, private equity groups, national corporations, and private ownership entities across Naples, Marco Island, Bonita Springs, Estero, and Fort Myers.<\/p>\n<p><strong>Media Contact<\/strong><\/p>\n<p><strong>Saggio Realty<\/strong><br \/>Attn: Media Relations<br \/>Naples, Florida<br \/>Website: <strong><a href=\"http:\/\/www.CRENaples.com\" rel=\"nofollow noopener\" target=\"_new\" title=\"www.CRENaples.com\">www.CRENaples.com<\/a><\/strong><\/p>\n<p align=\"center\"><img loading=\"lazy\" alt=\"Saggio Realty Announces Milestone Linked to Sale of Marco Island&#x2019;s CVS-Anchored Plaza\" height=\"328\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"margin-left:auto;margin-right:auto\" width=\"799\" class=\"lazyload\" data-src=\"https:\/\/pressranger.s3.us-west-1.amazonaws.com\/3070432\/cover.png\"><\/p>\n<p align=\"center\">CVS Anchored Island Plaza \/ www.CreNaples.com<\/p>\n<p><strong>About Mike Rivera | Saggio Realty Inc<\/strong><\/p>\n<p>A real estate company and developer for over 30 years in Southwest Florida. Offering market insights and advice for the everyday homeowner and Investor. A former mortgage professional for Apple Bank and mortgage, Security Mortgage. and A former licensed real Estate appraiser for landsafe, Countrywide, 5\/3 bank and certified express appraisal in Naples Fl.<\/p>\n<p><strong>Press Inquiries<\/strong><\/p>\n<p>                                  Mike Rivera<br \/> realestateradio1 [at] gmail.com<br \/> 9412290888<br \/> <a href=\"https:\/\/www.mikeriverasr.com\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\">https:\/\/www.mikeriverasr.com<\/a><br \/> 4548 W Alhambra Cir Naples Fl             <\/p>\n<p><img alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/N2FjZGQ2M2EtNDMxYi00YTY1LWFkOGEtNjJlMjQ2ZjVkMmRkLTUwMDE0OTczNS0yMDI2LTAyLTE0LWVu\/tiny\/Saggio-Realty-Inc-.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p>Mike Rivera Of Naples Fl Congratulates Hendricks Commercial Properties on Exceptional Return From Sale of Marco Island\u2019s CVS-Anchored Island Plaza<\/p>\n<p>Marco Island, Florida, Feb. 13, 2026 (GLOBE NEWSWIRE) &#8212; Saggio Realty proudly congratulatesHendricks Commercial Properties on the successful sale of Island Plaza, the approximately 79,000-square-foot CVS-anchored retail center located at 3058-3078 Bald Eagle Drive,, Marco Island, which closed in late 2025 for $26.6 million.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/17757"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=17757"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/17757\/revisions"}],"predecessor-version":[{"id":17758,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/17757\/revisions\/17758"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=17757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=17757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=17757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}