Sunday, November 15, 2015

Marcus & Millichap Arranges $1.6 Million Sale of Lighthouse Point Plaza in Lighthouse Point, FL

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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