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 portfolio consists of 16 apartment buildings.
He has also been consistently recognized by NAIOP South Florida, including Sale of the Year (2023), Private Office Sale of the Year (2021, 2022), Rookie of the Year award (2018), and Capital Markets Team of the Year (2017).
Scott Sandelin, an investment specialist in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a partnership between MMG Equity Partners, Mouhalis Capital Management, and GW Properties. Sandelin also procured the buyer.
The multifamily property is located to the east of Biscayne Boulevard, making it one of the few rental buildings located east of US-1. Additionally, Florida International University’s Biscayne Bay Campus is within walking distance, and the property is near several mixed-use developments in the area.
The development encompasses three contiguous properties that span 49,000 square feet.
The two-building, 74,103-square-foot industrial asset sold for $12.4 million.
The site spans 50,782 square feet on a 1.17-acre plot in Little Havana.
The buyer is affiliated with Florida East Coast Realty.