LAKELAND, Fla., October 22, 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 Goodyear Apartments, a 28-unit apartment property located in Lakeland, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $1,662,625.
Ned Roberts, CCIM, Adam Podbelski and Jason Hague, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.
“This deal was not without its challenges – including a delay caused by Hurricane Dorian,” said Mr. Roberts. “But we overcame those challenges and ultimately provided the seller with surety of closing by negotiating a contract which included an extremely short three-day due diligence, no financing contingency and a substantial earnest money deposit.”
Goodyear Apartments is located at 1647 Goodyear Avenue in Lakeland, Fla. Several of the units have been recently upgraded with further value-add potential via additional unit interior and common area improvements. Lakeland is centrally located between Tampa Bay and Orlando MSA’s.
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.