TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Sterling 42nd Street, (top left photo) a 196-unit, 722-bed student housing community in Tampa.
Dorothy Jackman, (middle right photo) a vice president investments, and Travis Prince (middle left photo) , a senior associate, both in the firm’s Tampa office, and Peter Katz (bottom right photo), a senior vice president investments in Phoenix, are representing the seller, the nation’s largest student housing developer, based in Houston.
“Sterling 42nd Street is a newly constructed, by-the-bed Class ‘A’ student housing community catering to the University of South Florida (USF),” says Jackman. “The property is over 98 percent occupied for the 2010-2011 school year.”
“Future demand is strong as USF continues to grow its enrollment,” adds Prince. “The Tampa campus received more than 40,000 students this fall and the first-year class grew 7 percent over 2009.”
The 248,781-square foot property is located a few blocks from the USF campus at 4050 Rocky Circle with the USF shuttle system, Bull Runner, stopping at the community’s entrance.
Katz says, “Core, infill urban student housing properties that are in significant MSAs have are greater demand by the investment community as allocated capital seeks a home in the second half of the year.”
Built in 2009, Sterling 42nd Street consists of 47 three-bedroom/three-bath units at 1,114 square feet, 15 three-bedroom/three-bath units at 1,151 square feet and 134 four-bedroom/four-bath units at 1,337 square feet, all leased by the bed. Each apartment includes a private bath for every bedroom and is fully furnished. All units have a plasma TV and ceiling fan in every bedroom, contemporary kitchens with black appliances and a full-size washer/dryer. Select units boast high-end urban finishes such as wood flooring and exposed ductwork.
Community amenities include two resort-style swimming pool plazas, tanning dome, business center, state-of-the-art athletic center, cyber café with coffee bar and elevators. All of the buildings have secured monitored entrances. The USF system serves more than 47,000 students in the Tampa Bay Area and is the ninth-largest university in the nation.
Contact: Stacey Corso
Public Relations Manager
(925) 953-1716
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