Monday, February 10, 2014

Marcus & Millichap Arranges $2.1 Million Sale of Lauderdale Lakes, FL Office and Retail Condo Property




Drew A. Kristol
LAUDERDALE LAKES, FL, February 10, 2014 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of an office/retail condominium property located in Lauderdale Lakes, FL. The asset sold for $2,100,000 representing $66 per square foot.

Vice President Investments Kirk D. Olson and Drew A. Kristol and Associates Edward Jones and Todd Cohen in Marcus & Millichap’s Miami office had the exclusive listing to market the property on behalf of the seller, a limited liability company from Tamarac, FL. 

The sale represented 12 units of a 13-unit office/retail condominium property located in the Headway Office Park in the heart of Lauderdale Lakes.

Todd Cohen
 The 12 units total 31,364 rentable square feet of ground floor office/retail. The condominium not included in the sale is owned by its user.

“The property was 55 percent occupied at the point of sale affording the buyer with an immense amount of upside through leasing the remaining vacant bays,” says Kristol.

The property, which was built in 1984, is in pristine condition and has ample parking.  It is located on busy State Road 7 (441) just south of Commercial Boulevard at 4850 North State Road 7.

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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