BRANDON, FL, September 29, 2021– 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 Miller’s Ale House, an 8,480-square-foot property on 1.85 acres of land located in Brandon, FL. According to David G. Bradley, regional manager of the firm’s Tampa office, the asset sold for $6,200,000.
James Garner, James Medefind, and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private group of investors based in the Midwest. The Medefind Garner Shiebler Group also recently closed on a Miller’s Ale House in Orlando, Florida, for $6,875,000.
“This was a location with a long operating history and well located on the main artery of Brandon Boulevard funneling daily traffic in and out of Downtown Tampa. Through our platform and marketing process, we were able to drive multiple offers and strong interest around this asset from all over the nation,” said Garner. “Ultimately, we collaborated with an outside Broker representing a buyer from New York. While the lease only had six years of base term remaining, the annual rental increases should help bolster the new buyer’s return over time.”
Miller’s Ale House is located at 1817 W Brandon Blvd in Brandon, FL. This asset represented a rare opportunity for an investor to purchase a truly iconic brand and trophy location in the submarket of Brandon, FL.
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 8,954 transactions in 2020 with a value of approximately $43 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.