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| The Anthony Building, 312 Clematis Street, West Palm Beach, FL |
WEST PALM 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 The Anthony Building, a 23,078-rentable square foot
retail and office property located on Clematis Street in the heart of West Palm
Beach, Fla.
The asset sold for $4,190,000 equating to $182 per square foot.
“This was a unique investment
opportunity in a strong barrier to entry location with excellent income and
recognition on Clematis Street,” says Douglas
K. Mandel, a senior vice president investments in Marcus & Millichap’s
Fort Lauderdale office.
“The property is poised to take advantage of the
tremendous future growth and critical mass taking shape in West Palm Beach’s
dynamic downtown area.”
Mandel and C. Todd Everett, a senior associate also in Marcus & Millichap’s
Fort Lauderdale office, represented the seller, a limited liability company
from West Palm Beach, Fla., and the buyer, an individual/personal trust from
Miami.
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| Douglas K. Mandel |
The Anthony Building is a
five-story building consisting of prime, ground-floor retail space and loft
offices. The property, which was
originally built in 1925 and completely renovated in 1998, is currently 97.5
percent occupied.
Located at 312 Clematis
Street on the east end of the downtown shopping and dining district, the
Anthony Building is approximately one block from Flagler Drive and the
intracoastal waterfront.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Vice President / Regional
Manager
Fort Lauderdale, FL
(954) 245-3400
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