Friday, January 3, 2014

$7.6 Million Sale of Strategic Biscayne Corridor Parcel in Miami’s Edgewood, FL Neighborhood Arranged by Marcus & Millichap

The 36,864-SF Boulevard site is at 3360 Biscayne Boulevard, Miami, FL

Ryan T. Shaw
MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of The Boulevard, a 36,864 square-foot land parcel fully approved for a mixed-use project, located in Miami, FL. The asset sold for $7,600,000.

Ryan T. Shaw and Jonathan Gerszberg, Senior Associates in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Hollywood, FL. 

“This was a unique opportunity for an investor to purchase a fully entitled, shovel ready, mixed-use development project in Edgewater, one of the most actively growing markets in Florida,” says Shaw. 

“Located on the intersection of Biscayne Boulevard and 34th Street, The Boulevard is ideally positioned between Downtown, Midtown, and the Design District.

Jonathan Gerszberg
“The site is fully approved for 150,510 square feet, consisting of approximately 13,000 square feet of ground floor retail, and a 127-unit, 16-floor, residential tower,”

This is the third sale Shaw has facilitated in the Biscayne corridor this year.  He also brokered the sale of Staples, located at Biscayne Boulevard and 21st Street, and the 27,750-square foot land parcel located at Biscayne Boulevard and 28th Street.

“The sale of The Boulevard is an excellent example of the demand foreign investors have for stable investments in Miami, as well as our firm’s ability to facilitate that demand,” adds Gerszberg.

The Boulevard is located at 3360 Biscayne Boulevard 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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