New York, New York, August 8, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the fee simple sale of 4531 South Dale Mabry Highway, a multi-tenant healthcare building in Tampa, Florida. The property is anchored by Tampa Sports Academy, which occupies approximately half of the 25,634-square-foot building. Three additional tenants on triple net leases occupy the remaining half.
The property was sold by Rubin Real Estate Advisors LLC, a group of individual investors based in the local Tampa market. The seller was represented by James Ullrich, Jeff Matulis, and Michael J. Macchia of Stan Johnson Company.
“The purchaser was drawn to the strong real estate and prime location,” said Ullrich, Director in Stan Johnson Company’s New York office. “South Dale Mabry serves as ‘main and main’ for the affluent South Tampa neighborhood, and the surrounding development is incredible, including the Gandy Bridge overpass project and the dense waterfront housing development in the Westshore Marina District. The property is one of the deepest lots on South Dale Mabry and should serve the buyer well for the years to come.”
The property was purchased in a 1031 exchange by a Florida-based developer for $8.6 million. The buyer was represented by Stan Johnson Company’s Houston office, and the sale closed at a 7.44 percent cap rate on June 5, 2019.