Press Releases

JBK Capital, Cornerstone Acquire Marathon Center

A partnership of Irvine, CA-based Cornerstone Realty Funds and JBK Capital of New York acquired The Marathon Center, a two-building industrial complex at 10321 and 10360 72nd St. North in Largo, FL, from Belleair Bluffs, FL-based Marathon Ventures of Pinellas LLC for $4.45 million, or about $90 per square foot.

The buildings were constructed in 1987 on 4.4 acres in the South Pinellas Industrial submarket and total 49,364 square feet. Golden Ribbon occupies 63% of the center as the largest tenant. The property sold with an 8% cap rate.

Jeff Spilman of Marcus & Millichap represented the seller, while Steven Siegel and Tanya Khabay of Marcus & Millichap represented the buyers.

For more information, please refer to CoStar Comp #1278906.