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| Drew A. Kristol |
LAUDERDALE LAKES,
FL, February 10, 2014 – Marcus & Millichap Real Estate Investment Services,
the nation’s largest real estate investment services firm, has announced the
sale of an office/retail condominium property located in Lauderdale Lakes, FL.
The asset sold for $2,100,000 representing $66 per square foot.
Vice President
Investments Kirk D. Olson and Drew A. Kristol and Associates Edward
Jones and Todd Cohen in Marcus & Millichap’s Miami office had
the exclusive listing to market the property on behalf of the seller, a limited
liability company from Tamarac, FL.
The sale
represented 12 units of a 13-unit office/retail condominium property located in
the Headway Office Park in the heart of Lauderdale Lakes.
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| Todd Cohen |
The 12 units
total 31,364 rentable square feet of ground floor office/retail. The
condominium not included in the sale is owned by its user.
“The property was
55 percent occupied at the point of sale affording the buyer with an immense
amount of upside through leasing the remaining vacant bays,” says Kristol.
The property,
which was built in 1984, is in pristine condition and has ample parking. It is located on busy State Road 7 (441)
just south of Commercial Boulevard at 4850 North State Road 7.
For a
complete copy of the company’s news release, please contact:
Kirk A. Felici
First Vice
President/Regional Manager,
Miami, FL
(786) 522-7000
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