TALLAHASSEE, FL,
October 10, 2017
- 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 2202 W. Pensacola Street, a 60-unit apartment property located in Tallahassee, FL, according to Ryan Nee, regional manager of the firm's Fort Lauderdale office. The asset sold for $3,200,000.
The buyer, a limited liability company, was secured and represented by Alejandro J. Gonzalez, Senior Associate, Felipe J. Echarte, First Vice President Investments and Evan P. Kristol, Executive Managing Director Investments in Marcus & Millichap's Fort Lauderdale office.
"The buyer was in an exchange out of Chicago and Benchmark Apartments provided a great opportunity and a return that is difficult to find in South Florida. More and more investors have started looking in Central and North Florida for quality assets with higher yields", states Gonzalez.
The property is located at 2202 W. Pensacola Street is located at 2202 W Pensacola St in Tallahassee, FL. The unit mix is comprised of 52 one-bedroom/one-bathroom and eight, two-bedroom/one-bathroom apartment units.
The building was constructed in 1974.
