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| 1000 17th Street, Lincoln Road Submarket, Miami Beach, FL |
MIAMI BEACH, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced it has obtained the exclusive listing
for 1000 17th St., a 17,975-square-foot corner retail property in Miami Beach,
Fla.
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| Kirk D. Olson |
The asset is listed at $30
million and is free and clear of existing debt.
Kirk D. Olson and Drew A. Kristol, vice presidents investments in Marcus &
Millichap’s Miami office are representing the seller, a Miami Beach-based
developer.
“The 1000 17th St.
building is an incredibly rare opportunity for an investor to acquire a newly
constructed, trophy retail property in the heart of the Lincoln Road Mall
submarket,” says Kristol.
“The property is cash-flow positive and offers more
than 13,500 square feet of vacant space ready to be leased or occupied.”
The three-story retail
property was built in 2014 and is anchored by Suitsupply, an international
men’s clothing retailer. Suitsupply recently signed a long-term net lease for
the entire 4,469-square-foot third floor. The first and second floors are both
vacant and in gray shell condition.
Designed by renowned
architecture firm Arquitectonica, the 1000 17th St. building has excellent
exposure along the southwest corner of 17th Street and Michigan Avenue. The
building is one block north of the Lincoln Road Mall, and is surrounded by
public parking lots.
For a complete copy of the company’s news release,
please contact:
Gina Relva, Public
Relations Manager
(925) 953-1716
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