Terrace Oaks Plaza, Tampa, FL
TAMPA, FL – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has
announced the sale of Terrace Oaks Plaza, a 40,659-square foot shopping
center located in Tampa, Florida, according to Richard D. Matricaria, regional
manager of the firm’s Tampa office. The $5,400,000 sales price equates to $133
per square foot.
 |
| James Medefind |
James Medefind and Patrick Whitney, investment
specialists in Marcus & Millichap’s Tampa, Florida and Dallas, Texas office,
had the exclusive listing to market the property on behalf of the local seller,
a private investor. Medefind procured
the international buyer, a partnership based in Canada.
Terrace Oaks Plaza was built in 1986 and is located at 11301
North 56th Street. This fully
stabilized shopping center is located within walking distance of the University
of South Florida, one of the nation’s largest universities. Other nearby attractions includes Busch
Gardens, Adventure Island, the Museum of Science and Industry (MOSI) and the
Sun Dome.
 |
| Patrick Whitney |
“Financing was a key element in getting this deal
closed. Non-recourse financing is
available again for quality, stabilized assets,” said Medefind in a
statement. “There were a total of nine
offers from a mix of local and international investors.”
He adds, “The seller benefited from our ability to access
capital from outside markets and we found a seasoned foreign buyer who was able
to purchase a quality deal here in Florida.”
.
For a complete copy of the company’s news release, please
contact:
Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700
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