Marcus & Millichap Sells Aventura Retail Strip For Over $1,000 PSF
Marcus & Millichap’s Doug Mandel, Zach Levine and Cody Hershey exclusively marketed the property on behalf of the seller and procured the buyer.
Marcus & Millichap’s Doug Mandel, Zach Levine and Cody Hershey exclusively marketed the property on behalf of the seller and procured the buyer.
“The building was 84% leased at the time of sale, and with approximately 40% of the rentable square footage set to roll over in the next four years, new ownership has a compelling opportunity to drive significant net-operating income growth over the next decade,” said Douglas Mandel, IPA executive managing director investments.
Built in 1984 and 1985 on 5.5 acres, the Deerfield Financial Centre comprises 60 office suites ranging in size from 120 square feet to over 4,750 square feet.
The building sold for $15.3 million.
The asset traded for $21.5 million.
Zach Levine, Douglas Mandel and Josh Gilbert, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The fully occupied property features a 25,000-square-foot building on a 2.1-acre lot.
The two-building, 74,103-square-foot industrial asset sold for $12.4 million.
Douglas Mandel, Tyler Kuhlman, and Zachary Levine, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, an entity tied to Malcolm Butters, and secured the buyer, LMP Boca, LLC.
Marcus & Millichap’s Doug Mandel and Tyler Kuhlman had the exclusive listing to market the portfolio on behalf of the seller and procured the buyer, a Florida-based private investor.
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