Sunday, December 7, 2014

Marcus & Millichap Directs $5.1 Million Sale of Bank of America Retail Center in Pinecrest, FL

Bank of America Retail Center, 11205 South Dixie Highway
Pinecrest, FL
PINECREST, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Bank of America Retail Center, an 11,428-square foot retail center located in Pinecrest, Fla.

The asset sold for $5,100,000.

Gabriel Britti and Ronnie Issenberg, vice president investments, and Victor Pastor, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami 

Ronnie Issenberg
“This was a long-term investment opportunity with a strong tenant base in an extremely high barrier to entry market,” says Issenberg.  “The property has been a State Farm location for 40 years and Bank of America for 21 years. Runner’s High is also a long standing local tenant with 14 years at this location.”

Bank of America Retail Center is located at 11205 South Dixie Highway in Pinecrest and is an end cap to Sunniland Shopping Center.

The property has two floors and four tenants occupying six spaces. Bank of America and State Farm are responsible for over 50 percent of the net operating income.

 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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