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Florida & Gulf Coast  + Central Florida  + Retail  | 

Marcus & Millichap Arranges $2M Sale of Clearwater Retail Property

Marcus & Millichap has brokered the $1.9 million sale of a 3,784-square-foot retail property net-leased to Starbucks coffee in Clearwater. The property is located at 2577 Ulmerton Rd.

James Garner, James Medefind and Jim Shiebler of Marcus & Millichap’s Tampa office represented the seller, an individual/personal trust, in the transaction. The buyer was in a 1031 exchange.

“With just over 3 years remaining on the lease and a large building footprint, the seller recognized a unique window to transact while the asset had a high valuation. The Medefind Retail team secured a 1031 exchange buyer and successfully negotiated an exceptional price of over 97% of list price. We were able to successfully convey the strength of the location, the growth of the area and the lack of competition in the immediate market to yield such an excellent price,” said Shiebler.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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