Wednesday, July 23, 2014

7,553-SF Net-Leased Property Sale in North Palm Beach, FL Arranged by Marcus & Millichap

Ben Tashakorian
NORTH PALM BEACH, FL – Marcus & Millichap (NYSE: MMI), the nation’s largest real estate investment firm, has announced the sale of Ruth Chris Steak House, a 7,553 square-foot net-leased property located in North Palm Beach, FL, according to John Vorsheck, regional manager of the firm’s San Diego office. The asset sold for $4,140,000.

Ben Tashakorian, an investment specialist in Marcus & Millichap’s San Diego office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

The buyer, a private investor, was secured and represented by Ben Tashakorian. Kirk Felici, Broker, assisted in closing this transaction. The Marcus & Millichap approach facilitated a market which both strengthened the offer and qualified the buyer. This investment is a Pride of Ownership Trophy Property.

Ruth Chris Steak House is located at 661 US Highway 1 in North Palm Beach, FL, across from The Village of North Palm Beach, a residential community with a population of 12,582 and home to a Jack Nicklaus Signature Golf Course.

Kirk Felici
 As a result of the excellent location on this major commercial thoroughfare, the traffic count in the immediate is over 28,700 vehicles per day.

National tenants in the surrounding area include Sun Trust Bank on the southwest corner, National City Bank, Bank Atlantic, Publix, Riverside National Bank, Subway Sandwiches and Salads and The United States Postal Service. 

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

John Vorsheck
Vice President
San Diego, CA

(858) 373-3100

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