DANIA BEACH, 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 12.98 acres of commercial-zoned
land located in Dania Beach, Fla. The asset sold for $6,300,000.
 |
| Bradley A. Addicks |
Ryan T. Shaw, a senior associate in Marcus &
Millichap’s Miami office, and Bradley A. Addicks, an associate in Marcus
& Millichap’s Charlotte Uptown office, represented the seller, Colony
Capital based in Calif. and the buyer, a joint venture between Masters
Development in Aventura, FL and Kimco Realty Corp in NY.
“This was an excellent opportunity to invest in a vibrant
and growing South Broward market next to I-95.
"The buyer intends to utilize
this land parcel as well as other surrounding properties to develop a 1.3
million-square-foot ‘open air’ shopping center with retail, apartments and a
hotel.
"The project, dubbed Dania Live,
will revitalize Dania Beach,” says Shaw.
The property was rezoned through the purchase process to
allow for the mixed-use development of approximately 100 acres.
The site is
located approximately one half mile from the intersection of Stirling Road and
I-95 and has a frontage on North Bryan Road, West Dania Beach Boulevard, and NW
1st Street.
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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