Marcus & Millichap Sells Key West, FL Office Building for $10.7M

KEY WEST, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of an 11,305-square foot office leased to the Department of Homeland Security and the United States Immigration and Custom Enforcement Facility in Key West.

The sales price of $10.7 million represents $969 per square foot.
Alex Zylberglait, associate vice president investments, in the Miami office of Marcus & Millichap, and Ryan Shaw, an investment specialist, also in the firm’s Miami office, represented the seller, KEY West GSA LLC (Kiely Commercial Inc.).

Donald MacLaren Jr., vice president investments; Tom Gorman, a senior associate; and investment specialists Matt Gorman and Andrew Janick, all in the firm’s Philadelphia office, represented the buyers, Craig and Kurt Hoffman.

“The new owner has acquired a recently developed Class A office property with a government tenant in a strategic Key West market, which has high barriers of entry,” says Zylberglait.

“Key West has a limited supply of investment real estate that rarely comes to market. Further adding it its appeal is the creditworthiness of the Federal government,” adds Tom Gorman.

Located at 2000 North Roosevelt Blvd., the two-story office building is situated on a 50,094-square foot lot. Built in 2006, the office building was constructed to withstand a category 5 hurricane. The building also has a diesel powered backup generator and is elevated with 23 covered parking spaces and 10 surface spaces.

Press Contact: Stacey Corso
Communications Department
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