MARCUS & MILLICHAP ARRANGES THE SALE OF 1.73 ACRES (75,210 SQUARE-FEET) OF LAND IN HALLANDALE BEACH, FL
HALLANDALE BEACH, FL, June 3, 2015 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 75,210 square-feet of land located in Hallandale Beach, FL. The asset sold for $4,163,375.
Alex D. Zylberglait and Adam J. Tiktin, Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor group from South Florida. Zylberglait and Tiktin also secured the buyer, a private investor from South America.
“These parcels are located in one of the most highly desirable retail corridors along the Miami-Dade/Broward County dividing line. Directly across the street are Gulfstream Park Racetrack & Casino and the world-class shopping and entertainment destination, The Village at Gulfstream Park. The buyer plans to explore several options with the property including possible future redevelopment” says Zylberglait.
The purchase consisted of three parcels, situated on a combined 1.73 acres. The 25,018-square foot parcel is currently a parking lot for additional parking to the adjacent 40,724-square foot parcel which is currently improved with a 6,000-square foot restaurant and the third 9,468-square foot parcel is currently a vacant lot. The three parcels are zoned Business General District (B-G), Business Limited District (B-L), and Residential (for additional parking), respectively. The land parcel is located at 100 South Federal Highway in Hallandale Beach, FL.