Sunday, March 6, 2016

Marcus & Millichap Handles $1.75 Million Sale of 12-Unit Palma Ceia Palms Apartments in Tampa, FL

Shawn Rupp
TAMPA, 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 Palma Ceia Palms, a 12-unit apartment building located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,750,000.

Casey Babb, CCIM and vice president investments, Luis Baez, senior associate, and Shawn Rupp, associate, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by the three brokers.

Palma Ceia Palms is located at 3321 West De Leon Street in the Class “A” Palma Ceia Gardens submarket of South Tampa. It was originally built in 1984 and rehabbed extensively over the past three years.

The community consists of twelve, two-bedroom/one-bathroom apartment homes which average 900 square feet and feature semi-private entrances, laminate wood, ceramic tile and berber carpet floor coverings, new white and black kitchens with modern appliances, nine foot ceilings, stackable washer and dryers, private patios (select units) and central HVAC.

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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