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| Britt Raymond |
POMPANO BEACH, 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 Palm Plaza at Cypress
Creek, a 44,132-square foot retail property located in Pompano Beach, Fla,
according to Ryan Nee, regional manager of the firm’s Fort Lauderdale
office.
The asset sold for $2,850,000.
Douglas K. Mandel, a first vice president
investments, in Marcus & Millichap’s Fort Lauderdale office, had the
exclusive listing to market the property on behalf of the seller, a limited
liability company from Jupiter, Fla.
The buyer, a developer from Fort Lauderdale, Fla, was
secured and represented by Britt Raymond, an associate, and Preet
Sabharwal, an associate vice president investments, in Marcus &
Millichap’s Manhattan office.
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| Douglas K. Mandel |
“Palm Plaza at Cypress Creek provided an investor the unique
opportunity to acquire a well-located, value-add retail center on a large
five-acre site. The property has
tremendous up-side and was priced below replacement cost,” says Mandel
Located at 1400 South Powerline Road in Pompano Beach,
Palm Plaza at Cypress Creek is situated just one mile from I-95 and within
minutes from the Florida Turnpike.
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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