Marcus & Millichap Brokers $4.18 Million Sale of Golden Corral Restaurant Site in Pompano Beach, FL

Golden Corral Restaurant, 2100 West Atlantic Boulevard, Pompano Beach, FL

POMPANO BEACH, 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 Golden Corral, an 11,035-square foot net-leased property located in Pompano Beach, Fla. The asset sold for $4,178,917.

Scott C. Sandelin

Scott C. Sandelin, a vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor from Aventura, Fla.  

The buyer, a limited liability company from Aventura, Fla., was secured and represented by Adam J. Tiktin, a first vice president investments, and Debra Franklin, an associate, also in Marcus & Millichap’s Miami office.

“This was an opportunity to purchase a strong performing asset with 13 years remaining on an absolute triple-net lease,” says Tiktin.   “The operator is the fourth largest restaurant franchisee in the U.S. and the largest Golden Corral franchisee.”

“We received multiple offers and closed less than three months from bringing it to market for just under list price,” adds Sandelin.

The 11,035-square foot restaurant was built in 2005 and is situated on a 1.8 acre lot. Golden Corral is located at 2100 W. Atlantic Blvd. on a signalized intersection. It is an out-parcel to Wal-Mart Supercenter and is surrounded by national tenants.

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

$9.8 million sale of village shoppes at st. lucie west arranged by marcus & millichap in Port St. Lucie, FL

Village Shoppes at St. Lucie West,  1718-1748 S.W. St. Lucie West Boulevard, Port St. Lucie, FL

Adam J. Titkin

PORT ST. LUCIE, 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 Village Shoppes at St. Lucie West, a 25,607-square foot retail center located in Port St. Lucie, Fla. The asset sold for $9,800,000 representing a 6 percent CAP rate.

Adam J. Tiktin, a first vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, Ross Realty – a partnership based in Davie, Fla.  The buyer, a partnership from Salem, Mass., was secured and represented by Derek R. Gibbs and Daniel J. Cunningham, associate vice president investments in Marcus & Millichap’s Fort Lauderdale office.

“This was a tremendous opportunity for an investor to acquire a stabilized and fully-leased shopping center,” says Tiktin.  “We received multiple offers from investors across the country and closed for just under list price.”

Village Shoppes at St. Lucie West is a 25,607-square foot retail center situated on 2.89 acres. The property is currently 100 percent occupied by nine tenants including Sprint, Fresenius Medical, Sports Clips and other national, regional and local tenants.

Located at 1718-1748 S.W. St. Lucie West Boulevard, the center is situated in a busy retail corridor just east of Interstate-95. Many national tenants including Walmart, Publix and Home Depot, as well as the New York Mets spring training camp are nearby.

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

Marcus & Millichap arranges sale of 8,460-SF development site in Miami, FL for $1.35 million

Alex Zylberglait

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 3070 SW 38th Court, an 8,460-square foot land parcel located in Miami. The asset sold for $1,350,000.

Alex D. Zylberglait, a senior vice president investments, and Dave Heaslip, an associate, both 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.

“This submarket is experiencing high population growth and property values are appreciating,” says Zylberglait.

“The high demand for available properties in the area translated into an excellent selling price for the seller and a tremendous investment opportunity for the buyer,” adds Heaslip.

Located near the intersection of SW 40th Street (Bird Road) and Ponce De Leon Boulevard in Miami, the property is zoned commercial (T6-12-O) which allows for the construction of office, retail, and multi-family structures of up to 12 stories in height. The property currently contains a 6,000-square foot office/industrial warehouse building.

3070 SW 38th Court is located just steps away from a newly completed mixed-use condominium and office/retail development site as well as a new multifamily development, Aviva Coral Gables. It is also near the Miami International Airport and the Dolphin Expressway - providing easy access to downtown Miami and Miami Beach.

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