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Marcus & Millichap Arranges $6.14 Million Retail Property Sale in Tampa Suburb

January 15, 2025

TAMPA, Fla., Jan. 15, 2025 – 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 Kings Lake Center, a 15,000-square-foot unanchored retail strip center in the Tampa MSA, for $6,140,000. 

"Kings Lake had extremely strong fundamentals with low rents and premier positioning in a rapidly growing pocket of Tampa.” says Eric Abbott, senior associate. “We secured an accepted offer with a 1031 buyer within 24 hours of marketing the asset.” 

Abbott and Zach Taylor, investment specialists in Marcus & Millichap’s Atlanta office, exclusively marketed the property on behalf of the seller, Blissett Hayes Big Bend LLC, and procured the buyer, Pacific West land, LLC. Ryan Nee is the broker of record for Marcus & Millichap Real Estate Investment Services of Florida, Inc. 

Kings Lake Center is located at 7130 Big Bend Road, less than a mile from I-75 interchange, a major transportation corridor with traffic counts exceeding 147,000 vehicles daily. The property is fully occupied with a diverse mix of service-oriented tenants, including restaurants, beauty services, and educational providers. This is a rapidly growing and developing corridor by Apollo Beach just outside of Tampa. The property is across from a new Publix-anchored center and a major apartment complex development.

 

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

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.

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