Monday, August 17, 2015

Marcus & Millichap Brokers Sale of Abacoa Corporate Center in Jupiter, FL for $6.95 Million

C. Todd Everett
JUPITER, FL,  Aug. 17, 2015 – 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 Abacoa Corporate Center, a 25,566-square foot office property located in Jupiter, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $6,950,000 equating to $272 per square foot.

Douglas K. Mandel, a senior vice president investments, and C. Todd Everett, SIOR, a director, in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from Melville, NY, and the buyer, a limited liability company from Palm Beach, FL.

  Steven Goldwyn, associate director with Marcus & Millichap Capital Corporation, provided financing.

“The sale of Abacoa Corporate Center is indicative of the strong demand we are experiencing for stabilized assets in high demographic sub-markets like Jupiter and exemplifies the collaborative capabilities of the Marcus & Millichap platform” says Everett. 

Steven Goldwyn
Abacoa Corporate Center is a 100 percent leased, two-story Mediterranean style office building.  The building features high ceilings, access control systems, second floor balconies, crown molding throughout the common areas and lush tropical landscaping.

Located at 1200 University Boulevard on a corner lot, the property is within walking distance to the shops, restaurants and other businesses in Jupiter’s high-end live-work-play district known as Abacoa Town Center.  
Roger Dean Stadium, the winter home to the Miami Marlins and St. Louis Cardinals, is located directly across the street.

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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