SATELLITE BEACH, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment brokerage firm, has announced the sale of a 32,750-square foot shopping strip (bottom right photo) in Satellite Beach, Fla according to Kirk A. Felici, (top right photo) Regional Manager of the firm’s Miami office.With A1A frontage and a strong tenant mix, the retail center demanded a sales price of $3,570,000. Investment specialist Ronnie S. Issenberg (top left photo) of the Miami office represented the sellers, Garret Company an
d Trigen Company, and the buyers, Mr. Sunil Khiyani and Skyview Plaza LLC.
d Trigen Company, and the buyers, Mr. Sunil Khiyani and Skyview Plaza LLC. “Half the center sat on a ground lease that was negotiated in the transaction. There is a corner of the parking lot which the buyers can either develop or sell off as an out parcel pad. They will also benefit from the opportunity to convert the current gross leases to NNN leases,” says Issenberg. The property, which was renovated in 2002, is located at 202-254 Highway A1A in Satellite Beach, Fla.
CONTACT:
Ashley Steele
Marketing Coordinator
Marcus & Millichap
5900 N. Andrews Avenue, Suite 100
Fort Lauderdale, FL 33309
Direct Tel: (954) 245-3516
Cell: (215) 828-9585
Fax: (954) 245-3410
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