PINELLAS PARK, Fla., February 20, 2020 – 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 78th Avenue Apartments, a 11-unit apartment property located in Pinellas Park, Fla., according to Christopher W. Travis, regional manager of the firm’s Tampa office. The asset sold for $1,034,000.
Sebastian Harris, Adam Podbelski, Ned Roberts, CCIM 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 limited liability company. The buyer, a private investor, was also secured and represented by Sebastian Harris, Adam Podbelski, Ned Roberts, CCIM and Jason Hague.
“Through our exhaustive marketing efforts, we were able to generate 14 written offers from local, out of state, and international investors. The volume of activity further highlights the incredible demand we are seeing for value-add multifamily assets of all sizes in Florida.” Said Harris.
78th Avenue Apartments is located at 4030 78th Avenue North in Pinellas Park, Fla. The property is located 15 minutes from Downtown St. Petersburg and within 25 minutes of Downtown Tampa, Westshore Business District, Tampa International Airport and World-Renowned Pinellas County Beaches.
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.