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| Medical Office Building, 2925 Aventura Blvd. Aventura, FL |
AVENTURA, FL – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has
received the exclusive listing for a three-property portfolio containing a
medical office building with adjacent land for development and a Wells Fargo
bank ground lease, all located in Aventura, Fla., an affluent suburban market
in northeastern Miami-Dade County.
All three properties must be purchased together. The portfolio’s
listing price is $19,975,000. The properties are:
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| Wells Fargo Bank branch building 2929 Aventura Boulevard Aventura, FL |
---2925 Aventura Blvd., a
32,932-square foot medical office building
---2929 Aventura
Blvd., a 5,200-square foot Wells Fargo bank ground lease
--- A one-acre
development site adjacent to 2925 Aventura Blvd.
Alex Zylberglait, a vice president investments in
Marcus & Millichap’s Miami office, is representing the seller, a local
property owner.
“The portfolio provides investors with an opportunity to
generate a stable return from the medical office building and the bank’s
long-term ground lease,” says Zylberglait. “There are plans in place to build a
45,000-square foot office building with an additional 12,000 square feet of
retail on top of structured parking on the land adjacent to the building.”
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| Alex Zylberglait |
Proximate to Aventura Hospital, the medical office building
is located next to Mount Sinai Medical Center and the 2,700,000-square
foot Aventura Mall. The building’s tenant base consists mainly of medical
professionals. The parking ratio is greater than four per 1,000 square feet.
The
20-year Well Fargo Bank ground lease commenced in Sept. 2009 and expires at the
end of March in 2030. There is a 10 percent increase in year six, a 30 percent
increase in year 11 and a 10 percent increase in year 16.
For a complete
copy of the company’s news release, please contact:
Public Relations
(925) 953-1716
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