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| Taco Bell, 1495 4th Street South, St. Petersburg, FL |
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| Barry M. Wolfe |
SAINT PETERSBURG, 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 two Taco Bell restaurants located in St. Petersburg and Pasadena,
Fla. 1495 4th Street South sold for $2.01 million and 903 Pasadena Avenue South
sold for $2.24 million.
Barry M. Wolfe,
a first vice president investments, and Alan
Lipsky, an associate, both in Marcus & Millichap’s Fort Lauderdale
office, represented the seller of the properties, a limited liability company
from St. Petersburg, Fla.
Both properties are newly
constructed with long-term leases and minimal landlord responsibilities.
"Investor demand for
available single-tenant properties is very strong, especially in the St.
Petersburg area. The city is experiencing incredible growth from new
restaurants, condos and apartments,” says Wolfe. “We received tremendous interest from both
domestic and international investors in the Taco Bell properties.”
The 1,760-square foot Taco
Bell at 1495 4th Street South is less than a mile from the University of South
Florida-St. Petersburg, Bayfront Medical Center, All Children’s Hospital and
Port of St. Petersburg. The 2,141-square foot Taco Bell at 903 Pasadena Avenue
South is situated in Pasadena, a thriving community adjacent to the gulf
beaches.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Regional Manager, Fort
Lauderdale
(954) 245-3400
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