West Palm Beach, 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
Okee Square, a 124,000-square foot retail property located in West Palm
Beach, Fla., according to Ryan Nee, vice president / regional manager of
the firm’s Fort Lauderdale office. The asset sold for $18,400,000.
 |
| Douglas K. Mandel |
Okee Square is located
at 2021-2031 Okeechobee Boulevard in West Palm Beach. The property consists of
approximately 103,690 square feet of inline space as well as two outparcels; a
16,010 square foot Rooms To Go Kids and 4,300 square foot PDQ Restaurant.
 |
| Barry M. Wolfe |
Barry M. Wolfe,
senior managing director investments, says, “We are continuing to see very
strong demand for retail properties throughout the South Florida market.
Both local investors and buyers from out-of-area are seeing the benefit of
owning well located retail assets in the Florida market.
 |
| Alan Lipsky |
"The West Palm
Beach market has experienced a tremendous surge in recent years of investor
interest with many investors recognizing the opportunity to benefit from the
long-term growth of this particular submarket."
Mandel, Wolfe, Alan
Lipsky, vice president investments, and Elon D. Gerberg, associate,
all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive
listing to market the property on behalf of the seller, a partnership, and
secured the buyer, a limited
liability company.
Scott Meyers
from Konover South procured the buyer, Myron Vogel. Eric Fixler of
Marcus & Millichap Capital Corporation collaborated in providing capital
markets solutions to the buyer pool.
For more information, please contact:
Ryan Nee
Vice President /
Regional Manager, Fort Lauderdale
(954) 245-3400
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