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| Benjamin H. Silver |
CORAL GABLES, Fla., Sept. 9, 2014– Marcus & Millichap
(NYSE: MMI), a leading commercial real estate investment services firm with
offices throughout the United States and Canada, announced the sale of Santona
Corner, a 37,130-square-foot retail property with a private parking garage
composed of 159 spaces, located in Coral Gables, Fla.
The asset sold for $17,400,000, which equates to $469 per
square foot.
Douglas K. Mandel, a first vice president
investments, and Benjamin H. Silver, an associate vice president
investments, both in Marcus & Millichap’s Fort Lauderdale office, procured
a buyer for the property on behalf of the seller.
“This was an opportunity for an investor to acquire a trophy
retail asset across from the University of Miami with prominent and high
exposure on busy U.S. 1,” says Silver. “The distinguished building was designed
by Mateu Architecture and offers its tenants an upscale modern façade.”
Santona Corner has an abundance of on-site parking with the
private parking garage and provides excellent access to Miami International
Airport and Downtown Miami. The property is located on the corner of South
Dixie Highway (U.S. Route 1) and Santona Street at 1430 South Dixie Highway.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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