Monday, June 8, 2015

Marcus & Millichap Arranges Sale of Sample Row in Coral Springs, FL for $9.8 Million


Alan Lipsky
CORAL SPRINGS, Fl, June 8, 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 Sample Row, a 90,552-square foot retail property located in Coral Springs, Fla. The asset sold for $9,800,000.

Douglas K. Mandel, a first vice president investments, Barry M. Wolfe, a vice president investments, and Alan Lipsky, an associate, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Miami Beach, Fla. 

The buyer was a limited liability company from North Miami.

“The sale is reflective of the strong recovery of Broward County’s retail market. The property received strong interest from both local, out of area, and international investors. 

“The ultimate purchaser is based overseas and was attracted to the property as a long-term hold with an immediate opportunity to add value,” says Wolfe.  “We have seen tremendous recent demand for retail assets; in just the last few months, we have sold more than 500,000 square feet of retail properties.”

Barry M. Wolfe
Sample Row was built in 2001 and consists of three one-story buildings on 4.35 acres.  The plaza is home to retailers that include several dominant home goods stores, medical providers, and professional tenants such as DaVita Dialysis, a Fortune 500 company.

National retailers in the area include Bank of America, Lowe’s, Walgreens, Publix and a Walmart.

 Located at 7355 West Sample Road in Coral Springs, Fla., the property is centrally located within easy access of upscale residential areas and within proximity of the Sawgrass Expressway and the Florida Turnpike..

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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