Marcus & Millichap Sells Aventura Retail Strip For Over $1,000 PSF

Marcus & Millichap announced the sale of a 6,650-square-foot retail property at 21211-21215 Biscayne Boulevard in Aventura.

The asset sold for $6,850,000.

“Aventura remains one of South Florida’s most coveted markets with limited supply and high barriers to entry,” said Douglas Mandel, executive managing director investments in Marcus & Millichap’s Fort Lauderdale office. “Retail properties along Biscayne Boulevard rarely trade which created a tremendous amount of demand.”

Mandel and Marcus & Millichap’s Zach Levine and Cody Hershey exclusively marketed the property on behalf of the seller, OPH Realty LLC, and procured the buyer, Triarch Capital Group, Inc.

The property is located along Biscayne Boulevard at the intersection of NE 213th Street, which sees more than 50,000 vehicles per day. Tenants include The Original Pancake House, Morelia Ice Cream Paletas and Jimmy John’s. The property operates as an outparcel to Aventura Commons, a 267,000-square-foot retail center anchored by Whole Foods, Best Buy, Ulta Beauty and Target.