Monday, May 18, 2015

Marcus & Millichap Arranges Sale of 3,940-SF Net-Leased Property in Palm Harbor, FL


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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