Marcus & Millichap Brokers Sale Of Chase Bank In Miami

Marcus & Millichap announced the sale of a 4,545-square-foot Chase Bank at 11399 SW 40th St. in Miami for $6,650,000.

“We’re proud to have represented ownership in this marquee property sale in one of Miami’s strongest markets,” said Alex Zylberglait, executive managing director investments in Marcus & Millichap’s Miami office. “This is an excellent location with a strong credit tenant and superb demographics.”

Zylberglait and Michael Crocchiola, director investments, represented the seller, a private owner.

Built in 2011, the property is leased to JPMorgan Chase Bank on an absolute net ground lease that runs through June 2031. The 0.52-acre parcel sits at the intersection of SW 40th Street (Bird Road) and SW 114th Avenue, with traffic counts of more than 60,000 vehicles per day. Nearby national retailers include Publix, Home Depot and Walgreens.