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| Casey Babb |
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 Belfair Park Townhomes Phase II, 17
pad-ready townhome lots located in the Hyde Park neighborhood of South Tampa,
Florida, according to Richard D. Matricaria, regional manager of the firm’s
Tampa office.
The vertical-ready lots sold for $1,270,000
or $74,705 per unit.
Casey Babb, a CCIM and associate vice president investments and Luis Baez, senior
associate, both in Marcus & Millichap’s Tampa office, acted in a
transaction broker capacity and put the deal together on an off-market
basis.
Belfair Park Townhomes Development is located
at 2442 West Mississippi Avenue in Tampa, Fla.
“The original Belfair Park developer
initiated construction back in 2006 and delivered 10 townhomes before being
forced into a holding pattern due to the housing collapse,” says Babb.
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| Belfair Park Townhomes, South Tampa, FL |
“The community abuts the Crosstown Expressway
in Hyde Park/Palma Ceia and today, represents one of the last large townhome
development sites in that submarket, where units are again trading for as much
as $500,000.
“As opposed to finishing the project himself,
the original developer elected to sell the lots to a new developer who will
finish the project and sell off the remaining units in 2016,” concludes Babb.
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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