Marcus & Millichap Sells 6,800 SF Ground Lease

Marcus & Millichap has negotiated the $1.93 million sale of a 6,800-square-foot Sweet Tomatoes ground lease, located at 1900 Palm Beach Lakes Blvd. in West Palm Beach.
The restaurant has 13 years remaining on the ground lease, which provided rental increases every five years.
Matthew Gorman and Michael Shover of Marcus & Millichap’s Philadelphia office, along with Robert Granada of the firm’s Fort Lauderdale, Fla., office, represented the seller, a New Jersey-based limited liability company, in the transaction.
Gorman, Shover, Granada and Douglas Mandel, also of the firm’s Fort Lauderdale office, represented the buyer, a South Florida-based limited liability company.
Source: REBusiness



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