Friday, February 1, 2019

Prime South Florida Retail Asset Hits the Market for the First Time in 78 Years at $8 Million


Love Family Building, 310 E. Atlantic Avenue, Delray Beach, FL

DELRAY BEACH, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced it has been selected to exclusively market for sale the Love Family Building, a 5,753 square-foot, two-tenant retail asset in Delray Beach, Florida. The price is $8 million.

Howard Bregman
“This is an extraordinary and rare opportunity for an investor to acquire a prime retail asset in the heart of downtown Delray Beach, FL” says Howard Bregman, first vice president investments in Marcus & Millichap’s Fort Lauderdale office.

“Tenant demand and development continue to rise in Delray Beach - especially with the revitalization and redevelopment of the Delray Beach Art District, which has transformed the area into a major tourist attraction.”

Bregman is representing the seller, a private owner, that has owned the property for over 78 years.

The property is in the heart of downtown Delray Beach, FL. The Love Family Building is located at 310 E. Atlantic Avenue on the South side of Atlantic Avenue between Southeast 3rd Avenue and Southeast 4th Avenue on the premier block in prime downtown Delray Beach.

Delray Beach, FL Art District
The property also sits directly in front of the future Delray City Market, a 120,000 square foot, four-story, mixed-use building and directly adjacent to Urban Outfitters, and on the same block as SunTrust Bank and Capital One Bank & café.

Constructed in 1940, the Love Family Building consists of two retail units which are currently occupied by two tenants on a short-term lease well below the current market rents. 

Contacts:

 Ryan Nee
Vice President / Regional Manager
 Fort Lauderdale
(954) 245-3400

or

Stephanie Carten
Marketing Coordinator
Marcus & Millichap
5900 North Andrews Avenue
Suite 100
Fort Lauderdale, FL 33309
(954) 245-3477 direct
(954) 245-3400 main
(954) 245-3410 fax
stephanie.carten@marcusmillichap.com



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