BRADENTON, Fla., July 27, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Sarabay Plaza, a 37,601-square foot retail property located in Bradenton, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for$2,400,000.
Jim Shiebler, James Garner and James Medefind and, 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. The buyer, an individual/personal trust, was also secured by James Medefind, Jim Shiebler and James Garner.
“Our proven marketing process yielded 7 offers for the property creating a high level of competition for the seller. We implemented and utilized a variety of creative strategies to mitigate and overcome a number of challenges,” stated Mr. Shiebler.
Sarabay Plaza is located at 6513 14th Street West in Bradenton, Fla. The property is located on the main North/South thoroughfare through Bradenton, US-41, which sees 47,500 vehicles per day. Bradenton is an extremely dense residential area with a 163,000 population within 5-miles.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.