ST. PETERSBURG, FL, August 24, 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 105,154-square feet of land located in downtown St. Petersburg, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $3,600,000.
Paul Bouldin, senior associate, Michael P. Regan and Francesco P. Carriera, both first vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a developer, was secured and represented by Paul Bouldin.
Located on 6th Avenue South in downtown St. Petersburg, this mixed-use development site is specially designated as an Activity Center within the Future Land Use designation of Planned Redevelopment-Mixed-Use and carries the Corridor Commercial Traditional-1 zoning designation. The property is located one block south of Interstate 175 with immediate access to the on and off ramps. It is within walking distance of Campbell Park, Bayfront Medical Center, All Children’s Hospital and Tropicana Field.
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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