SAINT PETERSBURG, FL, December 21, 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 34th Street Crossing, a 51,619-square foot shopping center located in Saint Petersburg, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $4,390,000.
Moe Derbala, senior associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.
34th Street Crossing is located at 2900 34th Street South in Saint Petersburg, Florida, and resides on 4.32 acres. The shopping center has excellent frontage along 34th Street South, which is also known as U.S. Highway 19, a major north/south thoroughfare through Pinellas County. The property was 97 percent occupied at the time of the sale with 51 percent of the center consisting of national tenants, such as ALDI, DaVita and Bank of America, in addition to a great mix of local tenants. The center is well-maintained and has had multiple capital improvement projects completed within the past few years.
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About Marcus & Millichap (NYSE: MMI)
With over 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