Thursday, May 9, 2013

Marcus & Millichap Sells 36,000-SF Office Building in Hollywood, FL for $3.79 Million


  


                        Regions Bank Building, Hollywood, FL

HOLLYWOOD, FL, May 9, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Regions Bank Building, a 36,000-square foot office property located in Hollywood, FL. The asset commanded a sales price of $3,790,000.

Douglas K. Mandel
First Vice President Investments Douglas K. Mandel in Marcus & Millichap’s Ft. Lauderdale office had the exclusive listing to market the property on behalf of the seller, a private investor from Hollywood, FL.  The buyer, a limited liability company from Golden Beach, FL was also secured and represented by Mandel. 

The Regions Bank Building is a 36,000-square foot, eight-story mid-rise office building.  The property features covered parking, building signage and a fully updated drive thru.

The Regions Bank Building is currently 84 percent leased by a mix of corporate and local professional tenants. There is an added benefit of income from several rooftop telecommunications antennas, including leases with Verizon, SprintPCS, and AT&T Communications.

Constructed in 1976, the high visibility building is located just north of Hollywood Boulevard at 450 North Park Road in Hollywood, FL.
  
 For a complete copy of the company’s news release, please contact:

Gregory Matus
Regional Manager / Vice President,
Fort  Lauderdale, FL
(954) 245-3400

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