TAMPA, FL, June 20, 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 Westshore Flex Space / Warehouse, a 9,572-square foot industrial property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $900,000.
Steven Dolinsky, associate, L.J. Tsunis, associate, Luke Elliott, associate vice president investments, and Michael A. Mele, senior 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 bank/financial institution, was secured and represented by Dolinsky, Elliott and Mele.
Westshore Flex Space / Warehouse is located at 5015 West Nassau Street in Tampa, Florida. This showroom facility consists of one building totaling 9,542 square feet and is situated on an approximately .47 acre parcel. The facility is located within close proximity to Interstate 275 and State Road 60 and has above average demographics, including a five-mile radius population of 208,000. Nearly 4,000 businesses are within the area with an estimated 94,000 employees.
“The multiple offers and sale at $93 per square foot achieved indicates both a strong and stable market for industrial flex space,” says Dolinsky.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing 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 8,700 transactions in 2015 with a value of approximately $37.8 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