Press Releases
Marcus & Millichap Arranges $6.2 Million Sale of Office Park in Largo, Florida
August 06, 2025
LARGO, Fla., Aug. 6, 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 Raymond James Office Park, a 48,035-square-foot office property in Largo, Florida, for $6.2 million.
“This property offers significant upside through the conversion of below-market gross rents to net leases and the ability to capture CAM reimbursements,” said Ronnie Issenberg, Senior Managing Director Investments.
Issenberg, along with Gabriel Britti and Ricardo Esteves, investment specialists in Marcus & Millichap’s Miami office, represented both the seller and purchaser in the transaction.
“We sourced a local owner of multiple retail and office properties who has planned a series of beautification and amenity improvements for the tenants,” added Britti, Senior Managing Director Investments.
Located at 2401 West Bay Drive, Raymond James Office Park includes six one-story buildings occupied by a mix of professional services, including legal, medical and financial tenants. The property sits on 4.2 acres with more than 450 feet of frontage along West Bay Drive, positioned between U.S. Highway 19 and Gulf Boulevard with visibility to more than 36,000 vehicles per day.
It is surrounded by residential communities including Grand Oak Apartments, The Rosery Apartments and Whispering Palms, and is near new housing developments such as Livingston Grove and Grand Central Townhomes, as well as shopping centers like Largo Plaza and Pinellas Shopping Center.
“This property offers significant upside through the conversion of below-market gross rents to net leases and the ability to capture CAM reimbursements,” said Ronnie Issenberg, Senior Managing Director Investments.
Issenberg, along with Gabriel Britti and Ricardo Esteves, investment specialists in Marcus & Millichap’s Miami office, represented both the seller and purchaser in the transaction.
“We sourced a local owner of multiple retail and office properties who has planned a series of beautification and amenity improvements for the tenants,” added Britti, Senior Managing Director Investments.
Located at 2401 West Bay Drive, Raymond James Office Park includes six one-story buildings occupied by a mix of professional services, including legal, medical and financial tenants. The property sits on 4.2 acres with more than 450 feet of frontage along West Bay Drive, positioned between U.S. Highway 19 and Gulf Boulevard with visibility to more than 36,000 vehicles per day.
It is surrounded by residential communities including Grand Oak Apartments, The Rosery Apartments and Whispering Palms, and is near new housing developments such as Livingston Grove and Grand Central Townhomes, as well as shopping centers like Largo Plaza and Pinellas Shopping Center.
# # #
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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
