Thursday, March 8, 2012

Marcus & Millichap Sells Miami Office Building for $4.6 Million

MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a 42,000-square foot vacant office building in Miami, according to Kirk A. Felici (middle right photo), Vice President/Regional Manager of the firm’s Miami office.

The asset commanded a sales price of $4,600,000 representing $99 per square foot. There was also an adjacent 8-unit apartment building included in the sale. 

Senior Associates Greg Zeifman (lower left photo) and Associate Benjamin H. Silver (lower right photo) in the firm’s Miami office had the exclusive listing to market the property on behalf of the seller, an international nonprofit organization headquartered in Miami, Fla. 

The buyer, a local developer from Miami, was also secured by Zeifman and Silver.

 “The four-story office building presented a unique opportunity for an investor to acquire a meticulously-maintained office building in an irreplaceable location.

The buyer plans on leasing the property as a multi-tenant office building with future development potential,” says Silver.

The office building is located at 550 LeJeune Road (Northwest 42nd Avenue) (top left photo) in close proximity to the Miami International Airport.

Press Contact:  Ashley Steele, (954) 245-3400

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