TELECOM TECHNOLOGY CENTER SELLS FOR $10.9 MILLION

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TEMPLE TERRACE, FLA. — Marcus & Millichap Real Estate Investment Services has arranged the sale of the Telecom Technology Center, a 133,919-square-foot, three-building, single-story office park in Temple Terrace, in a 1031 exchange. The Telecom Technology Center sold for $10.9 million and traded at a cap rate of 10.65 percent. Douglas Mandel of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, FOA Tampa LLC. Nathan Wood of the firm's Jacksonville, Fla., office represented the buyer, Lepanto Realty Corp.

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