Friday, January 9, 2015

Marcus & Millichap Brokers Sale of 12.98 acres in Dania beach, FL for $6.3 million

   



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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