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| Howard Bregman |
LIGHTHOUSE POINT, 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 Lighthouse Point Plaza,
a 19,616-square foot retail center located in Lighthouse Point, Fla. The asset
sold for a total of $3,150,000 in two separate transactions.
The land sold for $1,600,000 and the strip
center sold for $1,550,000.
Howard Bregman,
a senior associate, and Christopher
Hahn, an associate, both in Marcus & Millichap’s Fort Lauderdale
office, represented the sellers in both transactions. Bregman and Hahn also represented the buyer,
a private investor based in South Florida.
“This was an excellent
opportunity for an investor to acquire a well-maintained, value-add retail
shopping center in a high traffic, densely populated travel area,” says
Bregman. “There is tremendous upside in the ability to increase cash flow by
leasing out current vacancies.”
Lighthouse Point Plaza is
30 percent occupied by a karate studio and physical therapy tenant. The
property is located at 4750-4758 North Federal Highway and sits on 1.66
acres.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Regional Manager, Fort
Lauderdale
(954) 245-3400
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