LEESBURG, FLORIDA, June 8, 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 Venetian Isle, 47.5 acres of land located in Leesburg, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $4,315,000.

Paul Bouldin, a land and development investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

“Venetian Isle, located on East Dixie Avenue in Leesburg, Florida is part of a larger mixed-use development planned one block from Leesburg Regional Medical Center. The overall development plan calls for a mixed-use project. The sellers also have another 38 acres on Lake Harris, adjacent to the Venetian Isle property, slated for multifamily residential and/or senior housing,” commented Bouldin.

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About Marcus & Millichap (NYSE: MMI)

With over 1,700 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 9,000 transactions in 2016 with a value of approximately $42.3 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