Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of three properties in South Florida, including the Towers of Coral Springs, two six- and four-story office towers totalling 75,344 square feet, in Coral Springs, Gardens of Miami Center, a 52,670sf shopping center in Miami Gardens, and Royal Palm Gardens, a 16-unit multifamily property in Coral Springs. The sales totalled just over $15 million.
“Buyers are seeking properties with stability in the current income stream combined with the opportunity to create value through improvements to the property, its’ occupancy and operating efficiencies,” says Marcus & Millichap Senior Associate Andy Neiswenter.
Vice President Investments Marc Strauss of the Fort Lauderdale office and Senior Associate Al Palacios of the Miami office listed Towers of Coral Springs on behalf of the seller, a partnership and the original developer of the property. Andy Neiswenter of the Miami office secured the buyer of the property, a limited liability company from Hallandale Beach.
Senior Associates Drew A. Kristol and Kirk D. Olson of the Miami office represented the seller of Gardens of Miami Center, a limited liability company from Miami. Associate Jon Gerszberg, also of the Miami office, secured the buyer, a limited liability company from Miami.
Senior Associate Joseph P. Thomas and Associate Frank E. Fausone of the Fort Lauderdale office represented the seller of Royal Palm Gardens, a private investor from Coral Springs. The listing agents also secured the buyer, a limited liability company from Coconut Grove.
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