Wednesday, June 22, 2016

$6.74 million sale of gfs marketplace in Miami, fl arranged by marcus & millichap

Gordon Food Service Marketplace, 5600 West Flagler Street, Miami, FL

Ronnie Issenberg
MIAMI, FL,  June 22, 2016 – 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 Gordon Food Service Marketplace, a 17,431-square foot net-leased grocery store located in Miami. The asset sold for $6,735,000.

            “This was a unique opportunity to acquire a double-net, investment grade asset leased to a corporate-guaranteed retail grocer with more than seven years remaining on its base term,” says Ronnie Issenberg, a vice president investments in Marcus & Millichap’s Miami office. “The property sold for just under list price to a local private real estate investor.”

Issenberg, along with Gabriel Britti and Scott C. Sandelin, vice president investments, and Al Palacios, a senior associate, also in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller.

The 17,431-square foot GFS Marketplace is situated on a 45,100-square foot lot near the Miami International Airport. With more than 170 locations across the United States, GFS Marketplace the largest family-operated broad line food distribution company in North America.

The property is located at 5600 West Flagler Street.

For a complete copy of the company’s news release, please contact:

Kirk A. Felici
First Vice President/Regional Manager
Miami, FL

(786) 522-7000

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