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| Richard Moravek |
BOCA RATON, 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 23133 Sandalfoot Plaza
Drive, a 7,860-square foot retail property located in Boca Raton, Fla,
according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.
The asset sold for $4,000,000 equating to $509 per square foot.
Richard Moravek,
a senior 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 Merrick, NY. The buyer was
a private investor from Brazil.
“Capital from Latin
American investors seeking yield and safety in commercial real estate income
producing properties continues to flow into the South Florida tri-county area,”
says Moravek.
Built in 1990, the plaza
is located in the Sandalfoot retail corridor of Boca Raton. The plaza is well-maintained with 100 percent
occupancy by long-term tenants, including Jiffy Lube, Subway and Express Car
Wash. The plaza has excellent visibility
from US-441/State Road-7.
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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