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| Ryan T. Shaw |
MIAMI, June 1, 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
4.2 acres of land with an additional parcel outside the urban boundary line,
located in Miami.
The site sold for $4 million.
Ryan T. Shaw, an associate vice president
investments in Marcus & Millichap’s Miami office, had the exclusive listing
to market the property on behalf of the seller, a limited liability company
from Coral Gables, Fla.
The buyer, a
limited liability company from Dania Beach, Fla, was secured and represented by
Drew A. Kristol and Kirk D. Olson, vice president
investments in Marcus & Millichap’s Miami office.
“The
property was on the market for a couple of years prior to Marcus &
Millichap obtaining the listing,” says Shaw.
“We generated five offers and ultimately sold the property to a
developer of a major retail tenant.”
The vacant
lots wrap the Bank of America building located at SW 26th Street and SW 147th
Avenue with approximately 200 feet of frontage on Coral Way and 300 feet on SW
147th Avenue, which was recently extended to connect to SW 8th Street. The land
is zoned for retail and service convenience facilities (BU-1A).
For a complete copy of the company’s
news release, please contact:
Kirk A.
Felici
First Vice
President/District Manager
Miami, FL
(786)
522-7000
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