TAMPA, FLA., August 28, 2015 – 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 an Autozone ground lease, a 6,795-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 $1,060,000.
Mike Paspalakis, associate, Nicholas Meoli and Michael Donaldson, both vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Dustin R. Alvino, senior associate, in the firm’s Las Vegas office.
AutoZone occupies an attractive, freestanding building with 2005 construction on a half-acre of land located at 8002 North Dale Mabry Highway in Tampa, Florida. The property has excellent frontage on Dale Mabry Highway, a major north/south thoroughfare running through the heart of Tampa. It is ideally situated just south of a Walmart Supercenter in a dense retail corridor that includes PNC Bank, Burger King, Zaxby’s, Hudson’s Furniture, Family Dollar, LA-Z-Boy Furniture, 7-Eleven and many more.
“The seller had owned the property for 40 years prior to the sale, and was looking to retire,” says Paspalakis. “Due to our national marketing platform, we were able to secure a California-based investor within a short time frame who is in the process of expanding his single-tenant net-leased portfolio.”
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About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 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 7,600 transactions in 2014 with a value of approximately $33.1 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