LAKELAND, Fla., January 26, 2023– 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 a 22,419 square-foot retail property located in Lakeland, Florida for $13,200,000.
“These four contiguous retail properties have a strong mix of national and regional tenants and are located in one of the most desirable Central Florida markets. We received multiple offers, and selected a purchaser who was able to close all cash within fifteen days,” said Ronnie Issenberg, senior managing director of investments in Marcus & Millichap’s Miami office. Gabriel Britti also a senior managing director in the Miami office, along with Jonathan Gerszberg, first vice president in the Marcus & Millichap Fort Lauderdale office had the exclusive listing to market the property on behalf of the seller, an area Developer. The buyer, a limited liability company, was also secured and represented by Gabriel Britti, Jonathan Gerszberg and Ronnie Issenberg.
The property is located at 3920 Florida Avenue South. The property is just south of the S. Florida Avenue exit on the Polk County Parkway, which encircles Lakeland. South Florida Avenue is a major north-south thoroughfare through Lakeland. Colleges and universities located near this Retail Lakeland Center include Florida Southern College, Webster and Polk State College-Airside Center. Also nearby is Lakeland Regional Medical Center with 851 Beds and Watson Clinic.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research, and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting, and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.