Saturday, August 8, 2015

Marcus & Millichap Brokers $6.83 Million Sale of Prime Downtown Miami Redevelopment Site


Mika Mattingly
MIAMI, FL – 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 Metro Beauty, 11,300-square feet of land located in downtown Miami. The asset sold for $6,825,000.

Ryan T. Shaw, a vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, 3 Palms Enterprises LLC.  

The buyer, Jersey Art Holdings, was represented by Mika Mattingly of Sterling Equity Commercial.

“This was an excellent opportunity for the seller to capitalize on a strong real estate market, while continuing to operate established businesses in downtown,” says Shaw.

Metro Beauty is located at 4 SE 1st Street in Miami. The property sits approximately 150 feet from the Miami Avenue Metromover station, blocks from to the new Whole Foods at Met 3 and the Brickell City Centre development.

  For a complete copy of the company’s news release, please contact:                       

Kirk A. Felici
First Vice President and District Manager,
Miami, FL

(786) 522-7000

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