Marcus & Millichap Sells Centre Shops Retail Space In Longboat Key For $7.5M

The Centre Shops at Longboat Key, located in Longboat Key, Florida, has been sold for $7,465,000. This retail property, spanning nearly five acres, offers 37,880 square feet of retail space. It boasts a 95% occupancy rate and is strategically positioned just steps away from the Gulf of Mexico. The sale was facilitated by James Medefind of Marcus & Millichap.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $7,465,000
• Address: 5370 Gulf of Mexico Drive, Longboat Key
• Market: Longboat Key
• Asset Type: Retail
• Acres: 4.67

James Medefind, from Marcus & Millichap, represented the buyer in this transaction. The sale price of $7,465,000 translated to a price per square foot of $197.