MIAMI, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment brokerage firm, has announced the sale of a five-acre single tenant ground lease in Miami, according to Gene A. Berman,(photo at left below) Managing Director in the firm’s Fort Lauderdale office.Improved with a 45,744-square foot America’s Best Inn hotel, the property demanded
a sales price of $5,750,000. Lori Schneider, (top right photo) First Vice President Investments in the Fort Lauderdale office, represented the seller, Lincoln National Life Insurance. Mark Wohl, Senior Associate in the Miami office, represented the buyer, Taha Properties, LLC. “The investment is a great land-banking opportunity offering current income. The property also allows for significant development and is zoned to allow large scale commercial activities, retail buildings, restaurants and other uses,” says Schneider.
“The long term vision of the Buyer is part of an overall theme in today’s real estate cycle. The strategy of acquiring highly visible properties in strong in-fill locations makes this unique investment poised for a successful future development,” says Wohl. Positioned just north of the Miami International Airport (photo at right below) and east of the Palmetto Expressway (S.R. 826),(photo above) the property is located at 7330 NW 36th Street.
CONTACT:
Ashley Steele
Marketing Coordinator
Marcus & Millichap
5900 N. Andrews Avenue, Suite 100
Fort Lauderdale, FL 33309
Direct Tel: (954) 245-3516
Cell: (215) 828-9585
Fax: (954) 245-3410
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