
Marcus & Millichap Brokers $7.25M Sale of Tampa Publix
Marcus & Millichap has brokered the sale of a 64,031-square-foot net-leased Publix store at 8701 W. Hillsborough Ave. in Tampa, FL. The asset, built in 1977 on 6.29 acres, sold for $7.25 million which represented a 3.38-percent cap rate.
“It was a pleasure representing the sellers in the sale of their property that has been in their family for nearly a century. Once a piece of dirt, followed by an Albertsons ground lease in 1978, and now a Publix, this property has proven to be an extremely sought-after piece of real estate,” said Evan Cannan, senior associate.
Cannan and Reid Thedford, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. Dean Zang, David Crotts, and Josh Ein of Marcus & Millichap’s Washington, D.C. office facilitated procuring the highest offer in the bidding process.
- ◦Sale/Acquisition