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| Douglas K. Mandel |
FT. LAUDERDALE, FL – Douglas K. Mandel, a first vice
president investments of Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, has negotiated the sale of nine investment real
estate properties across Florida within the third quarter.
In all, Mandel and his team represented various entities in
the disposition of approximately $85 million in retail and office assets.
“Motivated by strong demand and high property values, many property
owners are bringing assets to market and as a result transaction velocity in
Florida has risen sharply,” says Mandel.
“Improving operations and heightened investor demand are
pushing property values above the previous high point, giving owners who were
able to hold on to assets purchased prior to the recession the opportunity to
realize profits.”
Among the
largest sales in the third quarter included the following, all of which closed
in separate transactions:
· Santona
Corner, a 37,130-square foot shopping center in Coral Gables, for $17,400,000
· Linton
International Plaza, an 85,383-square foot shopping center in Delray Beach, for
$15,300,000
 |
| Linton International Plaza, Delray Beach, FL |
· Plaza Del
Mar, a 32,079-square foot shopping center in Fort Lauderdale, for $13,800,000
· Addison
Court Shoppes, a 20,860-square foot shopping center in Boca Raton, for
$11,075,000
· 21/22
Center, a 74,461-square foot office building with ground floor retail along
Coral Way in Miami, closed for $13,000,000
· Chase Bank,
a 20,603-square foot office building on Miami Beach for $8,000,000
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
