Monday, August 11, 2014

Boca Raton, FL Townhouse Development Sale for $2.14 Million Brokered by Marcus & Millichap

  
Joseph P. Thomas

BOCA RATON, FL, Aug. 11, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Mizner Townhomes Development Site, 1.724 acres of land approved for 26 townhomes located in Boca Raton, FL. The asset sold for $2,140,000.

Joseph P. Thomas, a vice president investments, and Steven Ross, an associate, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a Coral Springs developer.  Thomas and Ross also secured the buyer, a private investor from San Francisco.

Mizner Townhomes is a 1.724 acre redevelopment project that was previously approved for 26 luxury townhomes. Currently, a 16-unit apartment building occupies the north half of the site.

 The apartment building was constructed in 1972 of concrete block and painted stucco and consists of two one-bedroom/one-bath apartments and 14 two-bedroom/two-bath apartments.
  
Mizner Townhouse Development Site, Boca Raton, FL
The area surrounding the Mizner Townhomes Development Site consists primarily of single-family homes, condominiums, office buildings and retail properties. 

Local points of interest include the Royal Palm Country Club, Boca Raton Resort and Mizner Park which is approximately one mile to the north. Mizner Townhomes Development Site is located at 20 Southeast 14th Street in Boca Raton, FL.

For a complete copy of the company’s news release, please contact:

Ryan Nee
Regional Manager
Fort Lauderdale, FL

(954) 245-3400

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