TAMPA, FL, Feb. 13, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Family Dollar (top left photo), a 16,500-square foot shopping strip located in Tampa, Fla., according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.
The asset commanded a sales price of $2,075,000.
Leon Brockmeier (middle right photo) and Michael J. Jaworski (lower left photo), retail investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a developer based out of Tampa, Florida. Brockmeier and Jaworski also helped secure the buyer of the property, a private investor also from Tampa, Florida.
This Family Dollar anchored center is 100 percent leased and was built in 2005. The property is located at 1727 East Busch Boulevard just east of Interstate 275 and minutes north of downtown Tampa. This discount giant has plans to open approximately 300 stores and renovate 600 to 800 stores this year.
“The center was on the market for only seven days” said Brockmeier. “We had a great deal of interest from investors due to the strong tenant mix and location.
“The property consisted of three tenants, Amscot Financial, Aaron’s Rents and the anchor Family Dollar – all of which are corporate leases” added Brockmeier.
“The seller accepted a competitive offer and we closed nine days later. The offer was 5 percent off the asking price. These types of assets are the investment opportunities our buyers are looking for in this marketplace - great location, tenant mix and demographics” concludes Brockmeier.
Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa
(813) 387-4700
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