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 BB&T (Dark), a 25,700-Square Foot net-leased property located in Palm Harbor, FL, according to Timothy A. Speck, regional manager of the firm’s Dallas office. The asset sold for $2,525,000.
“This deal was important to our team because it highlighted our ability to market the property affectively despite being a dark location” says Blake Leischow. “This allowed us to create a market and drive competition to overachieve our asking price and facilitate a smooth transaction for our client.”
Blake Leischow, Associate, Ryan Wolf, First Vice President Investments and Vincent Knipp, Senior Managing Director Investment in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Barry M. Wolfe, an investment specialist in Marcus & Millichap’s Fort Lauderdale office Regional Manager.
“Initially there were multiple brokers competing to win our clients business and secure an exclusive listing opportunity” Leischow continues. “We were able to win our clients business by providing our extensive track record in net lease bank brokerage, and we generated multiple competitive offers within the first week of listing the property.”
The team was able to utilize their expansive network and product hyper specialization in order to create a competitive market, which ultimately enabled then to select the best buyer and achieve the highest price, best term and quickest close for their client. As a result of the Knipp Groups hard work their client was able to generate a profit and now has the ability to improve her position in real estate to a newer NNN lease.
BB&T (Dark) is located at 35098 US Hwy 19 N in Palm Harbor, Florida.
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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
