Saturday, September 14, 2013

Marcus & Millichap Arranges Sale of 12,909-SF Shopping Strip in Miami, FL for $6 Million


Shoppes of Tamiami, 14200 SW Eighth Street, Miami, FL

Drew A. Kristol
MIAMI, FL, September 13, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Shoppes of Tamiami, a 12,909 square-foot shopping strip located in Miami, FL. The asset sold for $6,000,000.

Drew A. Kristol and Kirk D. Olson, Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami.  The buyer was also a limited liability company based in Miami.

Kirk D. Olson
“We were able to generate a great deal of interest from investors for the Shoppes of Tamiami due to the fact that newer constructed retail centers like this one rarely become available for sale in major retail corridors in Miami-Dade County,” says Olson. “The property features a strong, national tenant mix and excellent frontage on SW 8th Street with traffic counts over 50,000 cars per day.”
  
Built in 2007, Shoppes of Tamiami has a diverse rent roll of 90 percent national tenants, including: Starbucks, Smoothie King, Mattress Firm, Massage Envy and T-Mobile. The property is located at 14200 Southwest 8th Street in Miami, FL.

For a complete copy of the company’s news release, please contact:

Kirk A. Felici
First Vice President
Regional Manager
Miami, FL

(786) 522-7000

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