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| Murdock Plaza, Port Charlotte, FL |
PORT CHARLOTTE, 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 Murdock Plaza, an
83,165-square foot retail property located in Port Charlotte, Fla., according
to Richard D. Matricaria, regional manager of the firm’s Tampa office.
The asset sold for $4,980,000.
James Medefind, associate in Marcus & Millichap’s
Tampa office, and John Nuzman, vice president investments in the firm’s
Detroit office represented both parties in the transaction.
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| James Medefind |
Murdock Plaza is a newly-renovated shopping center that was
built in 1991 and located at 1700 Tamiami Trail in Port Charlotte, Fla. just a
mile-and-a-half from Port Charlotte Town Center. The center is currently 73 percent occupied and is anchored by
Bingo Trail, Dollar General and a local appliance retailer.
“Murdock Plaza was a great example of the current
supply-demand imbalance we are seeing in the retail market,” says
Medefind.
“Due to the lack of supply and overwhelming demand for well
located, value add opportunities in the marketplace, we were able to drive
three offers within the first 48 hours of bringing the asset the market,” adds
Medefind.
“This gave the seller options and negotiating leverage to
obtain a phenomenal price and amenable terms that fit the seller’s timeline.”
For a complete copy
of the company’s news release, please contact:
Richard D. Matricaria
Vice President/Regional Manager, Tampa
(813) 387-4700
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