Sunday, September 13, 2015

Marcus & Millichap Arranges Sale of 11,065-sf Shopping plaza in Miami, FL for $3.35 million


Douglas K. Mandel
MIAMI, 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 Colonial Shopping Plaza, an 11,065-square foot shopping center located in Miami. The asset sold for $3,350,000 equating to $303 per square foot.

Douglas K. Mandel, a senior vice president investments, Benjamin H. Silver, a vice president investments, and Richard Niewiadomski, an associate, all in Marcus & Millichap’s Ft. Lauderdale office, represented the seller, a limited liability company from Miami Lakes, Fla., and the buyer, a private investor from Miami.

“Although Colonial Shopping Plaza is located one block west from South Dixie Highway, it has full visibility from one of South Florida’s major north and south retail corridors. 

"The buyer, a private investor from Miami, identified this property as part of a 1031 exchange for its location and long history of high occupancy,” said Richard Niewiadomski.

Constructed in 1988, the retail center is 100 percent leased to eight long-term, local and regional tenants including Amscot Financial, Little Caesars and Cricket Wireless. 

The property has tremendous visibility from South Dixie Highway with over 65,000 vehicles passing per day. It is directly across the street from Colonial Shopping Center, a Publix-anchored center that includes tenants such as Game Stop, Subway, RadioShack and Advance America.

Colonial Shopping Plaza is located at 9477-9493 SW 160th Street in Miami.

  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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