Thursday, April 28, 2016

Marcus & Millichap Arranges $1.5 Million Sale of Family Dollar & Hotel Liquidators Site in Largo, FL

Dan Mulkey

LARGO, 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 Family Dollar & Hotel Liquidators, a 16,875-square foot retail property located in Largo, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,500,000.

Dan Mulkey, Michael Donaldson and Nicholas Meoli, all vice president investments 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 and represented by Jamie Medress, senior vice president investments, and Mark Ruble, first vice president investments, both in the firm’s Phoenix office. 

Family Dollar & Hotel Liquidators is a two-tenant net-leased property located at 1442 North Missouri Avenue in Largo, Florida.

 The center is situated with great frontage on U.S. Alternate 19 North, a busy thoroughfare running north/south through Pinellas County. This is a highly desirable retail location benefiting from over 260,000 people living within a five mile radius.

The property sits adjacent to a Walmart, and directly across the street from a new WaWa gas station, LA Fitness, TJ Maxx, Ross, Shoe Carnival and Dollar Tree.

“This two-property, net-leased investment is in an excellent location in the Clearwater market,” says Mulkey. “Although older, the Family Dollar has recently renovated their store showing their commitment to this site. Hotel Liquidators is a local tenant with strong historical sales. These two tenants provide the buyer with exceptional returns going forward.”

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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