ST. PETERSBURG, Fla., November 13, 2018 – 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 BayCare – Amscot, a 9,020-square foot retail property located in St. Petersburg, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $3,185,000.
James Garner, James Medefind and Jim Shiebler, investment specialists 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 James Garner, Jim Shiebler and referred by Cameron S. Barbas, Francesco P. Carriera and Michael P. Regan, investment specialists in Marcus & Millichap’s Tampa office.
The BayCare – Amscot property consists of two standalone retail buildings with 180 feet of frontage on 4th Street North, the area’s fastest growing retail corridor. BayCare Medical Group, Inc. leases 6,120-square-feet in a newly renovated building which includes a new roof, new HVAC system and brand-new interior build out. Both buildings were constructed in 1986 and the second building is leased to Amscot Corporation who has occupied this location for more than 15 years.
With approximately 1.14 acres in total land area, this property benefits from traffic counts that exceed an average of 36,000 vehicles per day and these tenants benefit from an abundance of national retailers in the immediate area including Winn Dixie, Dunkin Donuts, BB&T Bank, Sunoco, Batteries Plus Bulbs, Domino’s Pizza, Advance Auto Parts, 7-Eleven and Save-A-Lot.
BayCare – Amscot is conveniently located in close proximity to several major employment districts and dense residential areas. Downtown St. Petersburg is only 10 minutes away which includes multi-million-dollar residential high-rises and office towers, the redeveloped pier district and Tropicana Field home to MLB’s Tampa Bay Rays. To the north east is the Westshore Business District with more than 100,000 employees. BayCare – Amscot is located at 6801 4th Street North in St. Petersburg, Fla.
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About Marcus & Millichap (NYSE: MMI)
With over 1,800 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 2017 with a value of approximately $42.2 billion. Marcus & Millichap 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