Monday, March 21, 2016

Marcus & Millichap Handles Punta Gorda, FL Sale of Deep Creek Plaza

James Medefind
 PUNTA GORDA, 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 Deep Creek Plaza, a 12,776-square foot retail property located in Punta Gorda, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

James Medefind, senior associate, and Armando Rodriguez, associate, both 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 secured by Alex Bouchard and Gus Lagos, senior associates in Marcus & Millichap’s Houston office. 

Deep Creek Plaza is located at 2000 Rio De Janeiro Avenue in Punta Gorda, Florida. The 12,776-square foot, SunTrust anchored shopping center was built in 1988 and renovated in 2013.

It is occupied by an attractive tenant mix including a consumer bank, beauty salon, pizza restaurant and other local tenants. The plaza is ideally located within Deep Creek at the four-way intersection of Rio De Janeiro Avenue and Rampart Boulevard.

“Through our firm’s national process, we were able to access the largest buyer pool possible, which ultimately generated three offers in a short period of time and three back up offers after going to contract,” says Rodriguez. “This benefited the seller because the selected buyer, who was in a 1031-exchange, not only offered the highest price, but had the strongest terms giving the seller the best net proceeds and ease of close

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
First Vice President
Regional Manager
Tampa, FL

(813) 387-4700

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