TAMPA, Fla., July 15, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Texaco Xpress Lube, a 3,344-square foot net-leased property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,274,138.
James Medefind and James Garner, associates in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based in Florida. The California-based buyer, a private investor, was secured and represented by Tammy A. Saia, a vice president investments in the firm’s Chicago Oak Brook office.
Texaco Xpress Lube was built in 2003 and is located at 4319 Ehrlich Road in Tampa, Florida. The property is surrounded by national retailers including Publix, Walmart, Staples and Applebee’s.
“This is a classic example of Marcus & Millichap’s ability to attract buyers from across the country,” says Medefind. “A California investor had a relationship with an agent located in our Chicago – Oak Brook office. The Florida asset appealed to him as it was located in an income-tax free state with anticipated population growth in the coming years.”
“Bringing capital from across the country has allowed us to add true value to our clients looking to dispose of quality assets like this one,” concludes Medefind.
# # #
About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com