Monday, December 6, 2010

Marcus & Millichap Sells Publix Shopping Center Ground Lease in Pensacola, FL for $7.95 Million



PENSACOLA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of The Shops at Perdido Key (top left photo), a 53,003-square foot Publix anchored shopping center, located in Pensacola, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $7,950,000.

 Leon Brockmeier (lower left photo) and Matt Reichenthal (middle right photo) , retail investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based in Florida.


This Publix shopping center ground lease is located at 13390 Perdido Key Drive. 

“This was a tremendous opportunity to acquire a rare Publix shopping center ground lease with a rent escalation in the original lease term. We procured multiple offers in a matter of hours and put the property under contract within ten days.” says Brockmeier.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

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