TAMPA, FL, February 1, 2017 – 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 the 11,200-square foot North Tampa Office Complex located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,275,000.
Nicholas Creech, associate, and Luke Elliott, vice president investments, 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 represented by Luis Baez, senior associate in the Tampa office.
“This transaction underscores the value brought from the Marcus & Millichap platform. Though there were several prospective buyers, the winning bid came from an agent within the office with a buyer in a completely different product type,” says Elliott.
The North Tampa Office Complex is comprised of two professional office buildings located at 722 East Fletcher Avenue in Tampa, Florida. Historically, the property has seen high occupancies due to its strategic location adjacent to Interstate 275. The complex resides on 0.93 acres and features superb visibility from both Interstate 275 and State Road 582A with multiple signs showcasing the center and its tenants.
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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