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| Staples-Leased Building, 2121 Biscayne Blvd., Miami, FL |
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| Alvin Mansour |
MIAMI, FL – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has
arranged the sale of a Staples net-leased building on Miami’s Biscayne
Boulevard. The $17,375,000 sales price equates to $852 per square foot.
Alvin
Mansour of The Mansour Group, senior vice president investments in Marcus
& Millichap’s San Diego office, Alex Zylberglait, vice president
investments in the Miami office, and Ryan Shaw, senior associate in the
Miami office, represented the seller, 2121 Biscayne Blvd. LLC. Mansour,
Zylberglait and Shaw also represented the buyer.
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| Alex Zylberglait |
“Many
investors, including a high percentage of international buyers, are seeking
stable assets in Miami with highly rated national tenants,” says Mansour. “Few
of these properties are being listed, however, and competition is intense.”
“The highly trafficked area where this Staples is located
has enjoyed more than 70 percent residential population growth over the past
decade,” adds Zylberglait. “Growth of this magnitude provides the new owner
with unlimited future development potential.”
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| Ryan T. Shaw |
As the first LEED Gold Certified retail building in Miami,
this trophy asset is positioned in a densely populated area with over 470,000 residents
within a five mile radius. Staples
signed a 15-year lease which commenced in 2008. The offering provided the buyer with tremendous upside with up to
36 stories of potential development opportunity.
Located in Miami’s Design District, the property, at 2121
Biscayne Blvd, is near recognizable Miami landmarks such as Downtown Miami,
South Beach, and the American Airlines Arena, home of National Basketball
Association champions the Miami Heat. The Brickell Financial District is just
minutes from the site.
For a complete
copy of the company’s news release, please contact:
Ben Johnson
Marketing Director
(925) 953-1736
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