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

Marcus & Millichap Arranges Sale of CVS Pharmacy in West Miami, FL for $4.33 Million

Scott C. Sandelin

WEST MIAMI, 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 CVS Pharmacy, an 11,113-square foot CVS located in West Miami, Fla. The asset sold for $4,332,521.

Scott C. Sandelin, a vice president investments, Paul D. Nudelman, a senior associate, and Marcos Puente, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami. 

“Many cash-flow-oriented investors are targeting subprime locations or properties in search of higher cap rates. 

"Single-tenant space is seeing the most action in Miami, particularly for properties along transit routes,” says Nudelman. 

“This absolute-net leased CVS Pharmacy has operated from its corner location on busy SW 8th Street for more than 25 years.”

Located at 6320 SW 8th Street, the 11,113-square foot store reports strong sales and benefits from excellent demographics with over 180,000 people within a three-mile radius.

For a complete copy of the company’s news release, please contact:

                          

 Kirk A. Felici

First Vice President/District Manager

Miami, FL

(786) 522-7000

Berger Commercial Realty Closes Three Lease Transactions Totaling More Than 19,000 Square-Feet at Merrill Industrial Center in Fort Lauderdale, FL

Judy Dolan

FORT LAUDERDALE, FL - Berger Commercial Realty brokers recently closed three lease transactions totaling 19,175 square-feet of warehouse space at Merrill Industrial Center in Fort Lauderdale.

Berger Commercial Realty Vice President Judy Dolan and Sales Associate Annette Rey Bishop represented Merrill Industrial Center, Inc. in the new lease of 8,142 square-feet of space to Paradies-Broward, LLC.

 Paradies-Broward will occupy units eight and nine in bay C at 3406 S.W. 26th Terrace.

Dolan also represented Merrill Industrial Center in the renewal of 6,962 square-feet of space to Random Source, Inc. at 3400 S.W. 26th Terrace. 

Random Source occupies units eight and nine in bay A, located just two blocks from Marina Mile.

Annette Rey Bishop

Additionally, Dolan represented Merrill Industrial center in the renewal of 4,071 square-feet of space to Resort Marketing, Inc. at 3402 S.W. 26th Terrace. Resort Marketing occupies bay B-12.

Merrill Industrial Center offers convenient access to State Road 84, I-95, I-595, Florida's Turnpike, Fort Lauderdale International Airport and Port Everglades. The property is located centrally between Palm Beach and Miami-Dade Counties.

For more information about leasing at Merrill Industrial Center, call 954-358-0900 or visit www.bergercommercial.com.

For a complete copy of the company’s news release, please contact:

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com