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| 950 Building, 42,098 Square Feet, Corner of Red Bug Lake Road and South Winter Park Drive, Casselberry, FL |
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| Ray Turchi |
Casselberry, FL, May 23, 2019 – Marcus & Millichap
(NYSE: MMI), a leading commercial real estate investment
services firm with offices throughout the United States and Canada, has
announced the sale of The 950 Building, a roughly 42,098 square foot
professional office building located in Casselberry, FL,
according to Justin W. West, vice president/regional manager of the firm’s
Orlando office.
The asset sold for $3,926,075.
David Vaughan, Nicholas Hanson and Ray Turchi, investment
specialists in Marcus & Millichap’s Orlando office, exclusively represented
both the buyer and seller in this transaction – both private individuals.
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| David Vaughan |
The 950
Building is a three-story office building situated on 2.19 acres with street
frontage and high visibility on the corner of Red Bug Lake Road and S Winter
Park Drive.
The current occupancy is 85 percent, providing value-add upside to
the new buyer through the leasing up of vacant space. Built in 1985, the
property has undergone considerable renovations in recent years providing
tenants with an upscale work environment.
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| Nicholas Hanson |
CONTACTS:
Justin W. West
Vice
President / Regional Manager, Orlando
(407) 557-3800
Ocea Huggins
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Operations
Manager – Orlando and Jacksonville
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