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| Howard Bregman |
BOCA RATON, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of Boca Security Center,
a 13,400-square foot retail property located in Boca Raton, Fla. The asset sold
for $2,400,000.
Howard Bregman, a senior associate in Marcus &
Millichap’s Fort Lauderdale office, represented the seller, a private investor
from Boca Raton, Fla and the buyer, a private investor from Vero Beach, Fla.
“This was an ideal opportunity for an investor to acquire a
rare, prime east Boca Raton retail asset with long-term tenants, a history of
high occupancy levels, existing cash flow and the ability to significantly
increase the rental income,” says Bregman.
Situated less than a half mile from the east entrance to
Florida Atlantic University and with prime frontage on Boca Raton Boulevard,
the shopping center was renovated in 2006.
Its tenants include: Boca Security Center, Irishman Pub, Tom Sawyer and
other local retailers.
The center is located just north of Glades Road and south of
NW 20th Street at 1739-1819 NW 2nd Avenue in Boca Raton, Fla.
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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