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| James Medefind |
PALM HARBOR, FL, May 18, 2015 – Marcus & Millichap
(NYSE: MMI), a leading commercial real estate investment services firm with
offices throughout the United States and Canada, today announced the sale of Havoline Xpress Lube & Pelican Car Wash
Portfolio, a 3,940-square foot net-leased property located in Palm Harbor,
FL, according to Richard D. Matricaria, vice president and regional manager of
the firm’s Tampa office.
The asset sold for $730,000.
James Medefind,
Senior Associate, had the exclusive listing to market the property on behalf of
the seller, a private investor.
Havoline Xpress Lube & Pelican Car Wash Portfolio is
located at 680 Alternate 19 in Palm Harbor, FL.
The property sits on Alternate 19 which acts as the secondary throughway
for Pinellas County.
It is ideally located one-half mile north of a Winn Dixie
anchored center and 0.8 miles south of Palm Harbor University High School
(PHUHS), which serves over 2,475 students.
Palm Harbor is located 30 minutes
from Tampa, with 61,868 people living within three miles of the subject
property and an average household income of $75,989. The asset is subject to a
double-net lease.
“We received 5 offers on this opportunity from both local
and out of area investors. Ultimately,
the most aggressive buyer was a local investor who was executing a 1031
exchange. Driving multiple offers was
key to ensuring top of marketing pricing”, says Medefind.
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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