Monday, June 1, 2015

Marcus & Millichap Brokers $1.94 Million Sale of Sun Burst Inn in Indian Shores, FL


Casey Babb
INDIAN SHORES, FL, June 1, 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 Sun Burst Inn, a 12-room hospitality property located in Indian Shores, FL, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $1,948,000.

Casey Babb, CCIM, Vice President Investments, and Ari Ravi, Associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

The buyer, a private investor, was secured and represented by Casey Babb, CCIM and Ari Ravi.

“The Sun Burst Inn was attractive to the buyer who was looking for a stabilized asset located in an irreplaceable location. This asset fit their criteria of being located on the beach of Indian Shores with high, in-place cash flow and the ability to further increase income through minimal operational changes,” says Babb.

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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