Saturday, December 26, 2015

34th Street Crossing Shopping Center in St. Petersburg, FL Sold for $4.39 Million; Marcus & Millichap Handled Deal

Moe Derbala
ST. PETERSBURG, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of  34th Street Crossing, a 51,619-square foot shopping center located in St. Petersburg, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $4,390,000.

Moe Derbala, senior associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

34th Street Crossing is located at 2900 34th Street South in St.  Petersburg, Florida, and resides on 4.32 acres. The shopping center has excellent frontage along 34th Street South, which is also known as U.S. Highway 19, a major north/south thoroughfare through Pinellas County.

The property was 97 percent occupied at the time of the sale with 51 percent of the center consisting of national tenants, such as ALDI, DaVita and Bank of America, in addition to a great mix of local tenants. The center is well-maintained and has had multiple capital improvement projects completed within the past few years.

For a complete copy of the company’s news release, please contact:
Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700

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