Marcus & Millichap Sells Retail Property In Panama City Beach For $9.7M

The retail property located at 11501 Hutchison Boulevard in Panama City Beach has been sold for a total of $9,700,000. The property spans across 5.01 acres and offers a total of 48,000 square feet. The sale price per square foot was $202, indicating a lucrative transaction.

Summary of Transaction Details

• Property Type: Retail
• Transaction Amount: $9,700,000
• Address: 11501 Hutchison Boulevard
• Market: Panama City Beach
• Acres: 5.01

The sale of this retail property was facilitated by the brokerage firm Marcus & Millichap. The team involved in the transaction included Chad Atwood, Simon V. Grigoryan, Will Harding, and Jessica Harris. Garrett Fierstein from Marcus & Millichap Capital Corporation served as the mortgage broker. Their expertise and negotiation skills contributed to the successful sale of the property.