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| Gabriel Britti (left) and Ronnie Issenberg |
MIAMI, FL – Marcus &
Millichap (NYSE: MMI), a leading commercial real estate investment services
firm with offices throughout the United States and Canada, announced it has
retained the exclusive listing for a net-leased BB&T Bank and its corporate
offices in downtown Miami. The price is $17 million.
“BB&T demonstrated its
commitment to Brickell Avenue and Miami’s financial district by completing a
seven-year lease extension that includes the building’s ground-floor bank
branch and café space and corporate offices on the 10th and 11th floors,” says Ronnie Issenberg, first vice president
investments in Marcus & Millichap’s Miami office.
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| American Airlines Arena, Miami, FL |
“The location is a
world-class banking environment in one of the densest neighborhoods south of
Manhattan in the country.” Issenberg, and Gabriel
Britti, also a first vice president investments in Miami, are representing
the seller, a Florida Limited Liability Company.
“During a time when many
bank branches in secondary and tertiary markets are closing their doors because
of online banking, this branch is thriving,” adds Britti. “We consider this
net-leased opportunity, located at one of the busiest intersections in downtown
Miami and surrounded by hundreds of thousands of full-time residents to be
‘internet-proof.’”
The bank and its corporate offices
are situated in one of downtown Miami’s signature office buildings at 1200 Brickell Ave., in the midst of 36
million square feet of office, retail, hotel and residential space. Brickell
City Centre, a $1.05 Billion, 5.4 Million Square Foot shopping and mixed use
project is a five minute walk from this property.
The American Airlines
Arena, home of the Miami Heat, is 1.5 miles away and the Miami International
airport is within 10 miles. BB&T has been occupying the combined 28,350
square feet of space for more than 10 years. BB&T Bank has more than
$210,000,000 in deposits and is backed by S&P A-rated Corporate Branch
Banking and Trust Co.
For a complete copy of the company’s news release,
please contact:
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