July 7, 2022

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Marcus & Millichap Brokers $16.5 Million Sale of Solar Metropolis Middle Plaza

SUN CITY CENTER, Fla., Might 24,2022 – Marcus & Millichap (NYSE: MMI), a number one industrial actual property brokerage agency specializing in funding gross sales, financing, analysis and advisory companies, introduced right this moment the sale of Solar Metropolis Middle Plaza, a 97,654-square-foot, 31-suite, 100% absolutely occupied procuring middle within the submarket of Solar Metropolis Middle, Florida. The ten.36-acre property offered for $16,550,000.

“After nearly 400 transactions within the final 12 years, Solar Metropolis Middle Plaza was one in all my favorites. Solar Metropolis Middle Plaza had the entire attributes that an proprietor would search for in a top quality funding,” mentioned James Medefind, senior vice chairman of investments and founding father of the Medefind Garner Shiebler Group. “Greater than 80% of the tenants had occupied the middle for 10 years or longer, it’s situated in one of many quickest rising submarkets in Florida, and the vendor had taken phenomenal care of the property. We acquired a considerable quantity of curiosity from quite a lot of consumers, together with native traders, establishments, personal funding teams and worldwide syndicates.”

James Medefind and the Medefind Garner Shiebler Group, specialists within the Marcus & Millichap Tampa workplace, had the unique itemizing to market on behalf of the vendor, an out-of-state personal investor. James Medefind additionally procured the Miami-based purchaser.

Solar Metropolis Middle Plaza, situated at 1601 Solar Metropolis Middle Plaza, is occupied by a various mixture of nationwide, regional, and native tenants, together with Greenback Tree, Greenback Normal, Keller Williams, and Save-A-Lot. The middle is situated inside 5 minutes of the waters of Tampa Bay, half-hour from downtown Tampa and simply 25 minutes from downtown St Petersburg.

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“I’m glad we discovered the right purchaser who had the expertise and observe file essential to hold on the legacy of Solar Metropolis Middle Plaza,” added Medefind.

Based on the group, the plaza’s continued year-over-year success will profit from the addition of latest residential developments inside a 2-mile radius of the property, together with Cypress Mill, Valencia del Sol, Creek Protect, Sereno, Southshore Bay and Lennar’s Medley at Southshore Bay.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a number one brokerage agency specializing in industrial actual property funding gross sales, financing, analysis and advisory companies with places of work all through the US and Canada. As of December 31, 2021, the corporate had 1,994 funding gross sales and financing professionals in 82 places of work who present funding brokerage and financing companies to sellers and consumers of economic actual property. The corporate additionally presents market analysis, consulting and advisory companies to shoppers. Marcus & Millichap closed 13,255 transactions in 2021, with a gross sales quantity of roughly $84.4 billion. For added data, please go to www.MarcusMillichap.com.