Monday, September 7, 2015

Marcus & Millichap Brokers Sale of 35,965-SF Site in Tampa, FL


James Medefind
TAMPA, 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 Linebaugh and Sheldon Redevelopment, a 35,965-square feet of land located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,605,000.

Dana Speer, associate, and James Medefind, senior associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller. The buyer was secured and represented by Speer and Medefind.

The Linebaugh and Sheldon Redevelopment land is located at the signalized corner of Linebaugh Avenue and Sheldon Road directly across from a planned Costco and CVS pharmacy within the Westchase submarket of Tampa, Florida.

The property is exposed to more than 52,000 vehicles per day, which is expected to increase by another 25 percent upon completion of the Costco development. Also benefiting this land parcel is a new townhome development which is under construction immediately to the north.

“Due to our aggressive marketing platform we were able to drive in multiple offers for this listing, which resulted in it closing in a short period of time and above list price,” says Speer.

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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