LAKEWOOD RANCH, FLORIDA, June 12, 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 Magnolia Green 8, a 30,010 square foot, multi-tenant office building located in Lakewood Ranch, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $4,050,000.
Robbie McEwan, CCIM, associate director in Marcus & Millichap’s Orlando Office, along with James Medefind, first vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. “This transaction was a joint effort between our Tampa and Orlando offices in order to provide our client, the seller, with the best team possible,” says McEwan.
Magnolia Green 8 is located at 6975 Professional Parkway East in Lakewood Ranch, Florida. This asset was constructed in 2006 and is 88% occupied by a mix of local tenants.
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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