Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Starbucks, a 3,784-square foot net-leased property located in Clearwater, FL, according to David Bradley, regional manager of the firm’s Tampa office. The asset sold for $1,945,520.

James Garner, James Medefind and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.

“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,” stated Mr. Shiebler

Starbucks is located at 2577 Ulmerton Rd in Clearwater, FL.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.