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| Joseph P. Thomas |
BOCA RATON, FL, Aug. 11, 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
Mizner Townhomes Development Site, 1.724 acres of land approved for 26
townhomes located in Boca Raton, FL. The asset sold for $2,140,000.
Joseph P. Thomas, a vice president investments, and
Steven Ross, an associate, in Marcus & Millichap’s Fort Lauderdale office,
had the exclusive listing to market the property on behalf of the seller, a Coral
Springs developer. Thomas and Ross also
secured the buyer, a private investor from San Francisco.
Mizner Townhomes is a 1.724 acre redevelopment project that
was previously approved for 26 luxury townhomes. Currently, a 16-unit apartment
building occupies the north half of the site.
The apartment building was
constructed in 1972 of concrete block and painted stucco and consists of two
one-bedroom/one-bath apartments and 14 two-bedroom/two-bath apartments.
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| Mizner Townhouse Development Site, Boca Raton, FL |
The area surrounding the Mizner Townhomes Development Site
consists primarily of single-family homes, condominiums, office buildings and
retail properties.
Local points of interest include the Royal Palm Country
Club, Boca Raton Resort and Mizner Park which is approximately one mile to the
north. Mizner Townhomes Development Site is located at 20 Southeast 14th Street
in Boca Raton, FL.
For a complete copy of the company’s news release, please
contact:
Ryan Nee
Regional Manager
Fort Lauderdale, FL
(954) 245-3400
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