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| Alex D. Zylberglait |
MIAMI, FL, Feb. 19, 2015 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of 1850 SW
8th Street, approximately 30,000 square feet of rentable office and retail
space located in Miami.
The asset sold for $5,050,000.
Alex D. Zylberglait, a first vice president
investments in Marcus & Millichap’s Miami office, represented the seller, a
limited liability company from Miami, and the buyer, a limited liability
company from North Miami.
“This was an excellent opportunity for an investor to
acquire office and retail space in the lively and bustling neighborhood of
Calle Ocho,” says Zylberglait.
“In
addition to the office building, the offering also included two additional lots
comprising 0.28 acres used as parking for the Praxis Institute. There is also
additional rooftop cellular income from major mobile phone providers.”
The five-story building was built in 1972 and has ground
floor retail and four floors of office suites. The majority of tenants include
service professionals and businesses. The building has excellent frontage on
busy SW 8th Street (Calle Ocho) and is centrally located minutes from the
Palmetto Expressway (SR-836), Interstate 95, Miami International Airport, and
Downtown Miami.
For a complete copy
of the company’s news release, please contact:
Kirk A. Felici
First Vice President/Regional Manager
Miami, FL
(786) 522-7000
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