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| LA Fitness, Northwest 41st Street, Doral, FL |
DORAL, FL, July 21, 2014 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of LA
Fitness, a 37,500 square-foot net-leased fitness center located in Doral,
FL. The asset sold for $9,975,000.
Alex D. Zylberglait, a first vice president
investments in Marcus & Millichap’s Miami office, represented the seller, a
limited liability company from St. Petersburg Beach, FL, and the buyer, a
private investor from Aventura, FL.
“Net-leased properties remain a target of commercial real
estate buyers as both a capital preservation vehicle and steady cash-flow
investment. Buyers are looking to
maximize returns while cap rates are near historically low levels. This LA Fitness is one of the best
performing locations nationwide and benefits from its location in a densely
populated suburban community,” says Zylberglait.
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| Alex Zylberglait |
The 37,500 square foot building is situated on 2.29 acres
and is 100 percent leased to LA Fitness.
Located along Northwest 41st Street,
the area's main retail corridor, the property is centrally located between the
Palmetto Expressway and Florida's Turnpike and serves the high-income
residential community of Doral Park and Costa del Sol.
Major corporations
nearby include: Carnival Cruise Lines, Univision, the Federal Reserve, Samsung,
Pespi-Cola and more.
LA Fitness is located at 10055 N.W. 41st Street in Doral,
FL.
For a complete copy of the company’s news release, please
contact:
Kirk A. Felici
First Vice President/Regional Manager, Miami
(786) 522-7000
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