TAMPA, FLA., December 4, 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 Buffalo Medical Center, a 5,600-square foot office property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $490,000.
Luis Baez, senior associate and L.J. Tsunis, associate, both in Marcus & Millichap’s Tampa office, represented the local seller, a partnership. The buyer was represented by an outside broker.
Buffalo Medical Center is located at 508 West Dr. Martin Luther King Jr. Boulevard in Tampa, Fla. This is a three-suite medical office building located in the Westshore submarket of Tampa in close proximity to two hospitals. The property was built in 1989 and is situated on approximately 0.32 acres of land on one of the busiest streets in Tampa.
“Demand for medical offices is at an all-time high, says Tsunis. “We were able to procure multiple-offers and drive the value of the building for the seller.”
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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