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News Release: Marcus & Millichap arranges the sale of a 3,736-square-foot property type

St Petersburg, Fla., July 18, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of BayCare Urgent Care, a 3,736-square-foot hospital in St. Petersburg, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,060,000.

Krone Weidler and L.J. Tsunis, 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.  The buyer, a limited liability company, was secured and represented by Dana Speer, an investment specialist in Marcus & Millichap’s Tampa office.

“Our national marketing platform allowed us to expose this asset to a wide buyer pool” said L.J. Tsunis. “Preliminary interest in this property was enormous due to the location of the asset and the superior strength and reputation of the tenant. In the end, we procured four offers and carried this asset from listing to close in 60 days” added Tsunis.

BayCare Urgent Care is located less than two miles from St. Anthony’s Hospital in Pinellas County, Florida. St. Anthony’s Hospital was built with a mission, to build a hospital that always puts the patient first. Continuing its tradition for more than 80 years, today’s 393-bed hospital is recognized as one of the area’s most respected and technologically advanced medical facilities. St. Anthony’s enjoys a reputation in the fields of general surgery, orthopedics, cancer treatment, diabetes management and neurology.

This offering gives an investor the opportunity to acquire a stable asset, with a long-term tenant and an irreplaceable location for any medical related business. BayCare has been operating out of this facility since 2015. This is consistently one of the highest trafficked urgent care locations in the network. BayCare Urgent Care is located at 2331 4th St N in St Petersburg, FL.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 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 over 9,000 transactions in 2017 with a value of approximately $42.2 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

Ari Ravi
Regional Manager, Tampa
(813) 387-4700

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