ROCKLEDGE, Fla., July 29, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Health First Urology, a 8,900-square foot net-leased property located inRockledge, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $2,450,000.
“I began working with the Buyer late last year when we sold two properties he owned in Louisiana. The Health First Urology was a perfect fit to fulfill his 1031 tax deferred exchange. It is located in a great market with strong population growth projections, the overall building has been extremely well maintained, there is tremendous upside potential and most importantly there are no landlord responsibilities,” said Mr. Hurd.
“This is the type of asset that an owner can put in their portfolio and sleep well knowing there is little chance of losing money. I was able to negotiate an above average annual rate of return for the Buyer, assisted in securing very favorable financing on the deal and ultimately closed the transaction 53 days following execution of the purchase agreement,” added Hurd.
Health First Urology is located at 1026 Pathfinder Way in Rockledge, Fla. Built in 2006, there is a population of 92,000 within a 5-mile radius of the property.
About Marcus & Millichap (NYSE: MMI)
With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.