Marcus & Millichap Brokers $4.6 Million Sale Of Homestead Retail Property

Marcus & Millichap announced the sale of the Crystal Lake Strip Center in Homestead.

The property sold for $4,600,000.

Drew Kristol and Kirk Olson, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, MMG Equity Partners.

“MMG is long on essential services within the retail sector throughout South Florida,” said Marcos Puente, director of acquisitions for MMG, “We continue to see strong demand from tenants for us to develop new strip centers and freestanding buildings, and continue to seek out aging retail stock with the intent of revitalizing and/or redeveloping the properties to maximize their values.”

The buyer, Barsanti Family Partners, was also procured by Kristol and Olson.

This 7,304 square-foot retail building is located at 3320 NE 8th St and is situated on the busy Campbell Drive in eastern Homestead, in front of the Crystal Lake Shopping Center. This property is within a minute’s drive east of Florida’s Turnpike. Tenants include Jersey Mike’s, Vicky Bakery, Poke 1800 restaurant and a dental office known as Denvest.