Thursday, September 11, 2014

Marcus & Millichap Arranges Sale of 2,400-SF Verizon Wireless-Leased Building in Valrico, FL for $1.9 Million


James Medefind

 VALRICO, 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 Verizon Wireless, a 2,400-square foot net-leased property located in Valrico, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $1,936,000.

Armando Rodriguez, associate and James Medefind, senior associate in Marcus & Millichap’s Tampa office, represented both parties in the transaction.

Verizon Wireless is located at 3330 Lithia Pinecrest Road in Valrico, Florida.  The property is well located at the corner of a four-way intersection with a traffic count over 50,000 per day.  The property is situated among 300,000 square feet of retail space, giving the property great synergy with the other retailers.

Armando Rodriguez
“This particular asset drove several offers, but at the end of the day we were able to find a local private investor who was willing to pay the most aggressive price of over $806 per square foot, which is a record for a single-tenant net-leased Verizon building,” says Rodriguez. 

  “This was also a win for the buyer who was looking for inflation protection and limited management responsibility.”

 “In addition, with annual rental escalations, the return over time made this asset the best on-market out there,” adds Rodriguez.


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



Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700

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