Thursday, September 11, 2014

Marcus & Millichap Arranges Sale of Santona Corner in Coral Gables, FL for $17.4 Million


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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