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| Office Depot, Miami, FL |
MIAMI, FL, Jan. 15, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has announced the sale of a 24,894-square foot Office Depot
located near Miami International Airport in Miami, FL. The asset commanded a
sales price of $6,590,000.
Senior Associate Scott C. Sandelin in Marcus &
Millichap’s Miami office had the exclusive listing to market the property on
behalf of the seller, a REIT based in NY.
The buyer, a limited liability company from Canada, was also secured and
represented by Sandelin.
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| Scott Sandelin |
Office Depot is strategically located at the entrance to the
Miami International Airport and caters to the many businesses in the area.
Office Depot signed a new 10-year, corporate guaranteed,
triple-net lease in September 2008 which runs through September 2018. The rent
will increase by 10 percent in October of 2013.
Subsequently, there are four five-year options to renew,
with 10 percent rent increases in each option period. The property is located at 3600 LeJeune Road in Miami.
Press Contact:
Kirk A. Felici
First Vice President/Regional Manager,
Miami
(786) 522-7000
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