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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 10075 Yamato Road, a
6,500-square foot retail property located in Boca Raton, Fla, according to Ryan
Nee, regional manager of the firm’s Fort Lauderdale office.
The asset sold for $1,700,000, equating to $262 per square
foot.
Howard Bregman, a senior associate, and Michael
Mandel an associate, in Marcus & Millichap’s Fort Lauderdale office,
had the exclusive listing to market the property on behalf of the seller, a
limited liability company from Springfield, NJ.
The buyer, a private investor from Boca Raton, Fla, was
secured and represented by Derek R. Gibbs and Daniel Cunningham,
senior associates, and Tal I. Frydman, a first vice president
investments, in Marcus & Millichap’s Fort Lauderdale office.
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| Derek R. Gibbs |
“This was the perfect opportunity to acquire a stabilized
asset with three long-term tenants and little management responsibility in the
heart of west Boca Raton. Sherwin Williams recently exercised their first
five-year option 13 months early," says Mandel.
The strip center is located at 10075 Yamato Road in Boca
Raton and is occupied by Sherwin Williams, Personal Touch Dry Cleaners and
Brendy's Yogurt.
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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