 |
| Lori Schneider |
 |
| Barry M. Wolfe |
VERO BEACH, FL, March 29,
2017 – 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 Shops at
Vero Beach, a 12,718-square foot retail property located in Vero Beach, FL,
according to Ryan Nee, Vice President/Regional Manager of the firm’s Fort
Lauderdale office. The asset sold for $2,920,000.
Lori Schneider,
Senior Managing Director Investments, Barry
M. Wolfe, Senior Vice President Investments, David E. Gant, Senior Associate, and Alan Lipsky, Associate, all in Marcus & Millichap’s Fort
Lauderdale office, had the exclusive listing to market the property on behalf
of the seller, Reuven Kahane.
The buyer, a limited liability company, was
secured and represented by Nicholas
Ledvora, CCIM, Vice President Investments, in Marcus & Millichap’s
Tampa office.
Shops at Vero Beach is
located at 6480 20th Street in Vero Beach, FL. This acquisition marked the
second of two 1031 exchange properties acquired by the buyer. The property was
100 percent leased at the time of sale.
With only three tenants,
the property presented an opportunity for the buyer to acquire an asset with
ease of management in an exceptional, high-growth location. The property is
well-positioned on a primary retail corridor. It is an out-parcel to the
736,000 square-foot Indian River Mall anchored by Macy’s, Dillard’s, JCPenney and
Sears.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Vice President / Regional
Manager,
Fort Lauderdale, FL
(954) 245-3400
No comments:
Post a Comment