PUNTA GORDA, FL, March 18, 2016 – 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 Deep Creek Plaza, a 12,776-square foot retail property located in Punta Gorda, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.
James Medefind, senior associate, and Armando Rodriguez, associate, both 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 Alex Bouchard and Gus Lagos, senior associates in Marcus & Millichap’s Houston office.
Deep Creek Plaza is located at 2000 Rio De Janeiro Avenue in Punta Gorda, Florida. The 12,776-square foot, SunTrust anchored shopping center was built in 1988 and renovated in 2013. It is occupied by an attractive tenant mix including a consumer bank, beauty salon, pizza restaurant and other local tenants. The plaza is ideally located within Deep Creek at the four-way intersection of Rio De Janeiro Avenue and Rampart Boulevard.
“Through our firm’s national process, we were able to access the largest buyer pool possible, which ultimately generated three offers in a short period of time and three back up offers after going to contract,” says Rodriguez. “This benefited the seller because the selected buyer, who was in a 1031-exchange, not only offered the highest price, but had the strongest terms giving the seller the best net proceeds and ease of close.”
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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