VENICE, FL, September 2, 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 San Marco Village, a 12-unit apartment property located in Venice, FL, according to Christopher W. Travis, regional manager of the firm’s Tampa office. The asset sold for $1,100,000.
Casey Babb, Luis Baez, Sean A Dreznin, and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured by Casey Babb, Luis Baez, Sean A Dreznin and Shawn Rupp,
“Venice is a highly desired submarket with one of the strongest occupancy rates in the Sarasota-Manatee county area and has a high barrier to entry. This building is one of three to sell within the past six years between 10 and 100 units. The location is top-tier in Sarasota county and is another reason that attracted the buyer to the property,” said Sean Dreznin.
San Marco Village is located at 620 Guild Dr in Venice, FL. Each of San Marco Village’s units includes tile flooring, updated kitchen and bathroom amenities, air conditioning, and contemporary fixtures. The property, built in 1959, offers residents a stellar location nearby beaches and parks, along with easy access to the local airport and hospital.
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.