Marcus & Millichap Arranges The Sale Of A 34,100 SF Retail Property For $11.8M

1/8/18

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Shoppes of South Dale, a 34,100-square-foot retail property, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $11,800,000.

James Medefind, Barry M. Wolfe, and Dana Speer, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a developer. Alan Lipsky, vice president investments, in our Fort Lauderdale office assisted in closing the transaction.

“Marcus & Millichap is known for collaboration and our ability to access capital from across the country – resulting in record prices and highest net proceeds for our clients. This example is no different. We sourced a buyer from the mid-west who found Tampa to be an attractive investment environment. As a result, we yielded a higher sale price for our client,” says Medefind.

“The property is new construction with an excellent mix of service-oriented tenants. The property is in a prime Tampa submarket which resulted in high investor interest,” says Mr. Wolfe.

The subject property lies on busy South Dale Mabry Highway with a traffic count in excess of 34,000 cars daily and easy ingress and egress. Shoppes of South Dale is located at 4027 South Dale Mabry Highway in Tampa, Florida.

About Marcus & Millichap (NYSE: MMI)

With over 1,700 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 over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company 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

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