PORT RICHEY, Fla., March 6, 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 6802 Jasmine Blvd, a 18,000-square foot industrial property located in Port Richey, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $875,000 or roughly ($48.61 PSF).
Devin Guilliams and Jaclyn Blair, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust, limited liability company. The property closed 40 days after the property was put under contract. The buyer, a limited liability company, was also secured and represented by Devin Guilliams and Jaclyn Blair.
“The Seller and Buyer worked very diligently to put together a lease back that allows the Seller to continue to operate their business for the near-term future. The Buyer will look to possibly add more warehouse space over time given the property sits on over 2 acres of land in unincorporated Pasco County. Both parties were very pleased with the deal,” says Mr. Guilliams.
6802 Jasmine Blvd is located at 6802 Jasmine Blvd in Port Richey, Fla. The property was built in 1971 and sits on over two acres of land just off of US 19, with easy access to the main avenues of traffic, allowing it to cater to any business to business or business to consumer service provider in need of warehouse space. It is zoned C2 in Pasco County with 25 free surface parking lot spaces and 12-18 feet clear heights with six roll-up doors. The building is currently occupied by the owner who uses the space for their local business. The property was substantially renovated in 2005 with the roof being replaced.
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.