TAMPA, FL, November 30, 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 Shoppes of Sheldon, a 9,300-square foot shopping located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,725,000.
James Medefind, vice president investments, and Thomas Edwards, 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 and exclusively represented by Nicholas Ledvora, CCIM and senior associate also in the firm’s Tampa office.
“The buyer, who was seeking a replacement property to complete his 1031 exchange, was drawn to the deal by the asset’s favorable location in a dense market and the center’s strong tenant occupancy history,” states Ledvora.
Shoppes of Sheldon, located at 8315 Sheldon Road in Tampa, Florida, is a 9,300-square foot shopping center built in 2004. The center was 100 percent occupied by an attractive tenant mix, 80 percent of which have occupied the center since 2006, including Amscot and T-Mobile. The plaza is located on Sheldon Road just south of the busy Waters Avenue intersection and a brand new Costco development.
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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