Monday, October 6, 2008

Marcus and Millichap Sells a 150,210-SF Shopping Strip

TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Tampa Plaza, (top right photo) a 150,210-square foot Kmart anchored shopping center located in Tampa, Florida, according to Steven M. Ekovich, First Vice President/Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $4,412,000. Les Aron (bottom left photo) and David Goldstein, Vice Presidents, Investments and Dan Wolf, Investment Specialist in Marcus & Millichap’s Tampa office represented both the seller, a private investor based out of Minnesota, and the buyer, a Limited Liability Company (LLC), out of New York in this transaction.

“The center sits on over sixteen acres of very desirable retail property in Tampa, a key component to the future development plans of the buyer. The out-of-town seller has owned the property since the early nineties. The sale demonstrates the continued strong demand for reasonably priced Florida commercial real estate despite the economic downturn,” says Wolf.

Located at 8303 N. Florida Avenue in Tampa, Florida, this 150,210-square foot shopping strip was built in 1968.

Press Contact: Steven M. Ekovich, First Vice President/Regional Manager, Tampa(813) 387-4700

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