MARCUS & MILLICHAP ARRANGES THE SALE OF A 9,849-SQUARE FOOT NET-LEASED PROPERTY IN DORAL FOR $4.65 MILLION
DORAL, Fla, June 3, 2015 – 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 FedEx / AT&T, a 9,849-square foot net-leased property located in Doral, Fla. The asset sold for $4,650,000.
Alex D. Zylberglait, a first vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from St. Pete Beach, Fla. The buyer, a limited liability company from Aventura, Fla was also secured and represented by Zylberglait.
“I’m seeing more local investors focus on assets in suburban locations. Many of these buyers prefer single-tenant properties with long-term leases; however, because of intense competition, low yields and a lack of listings, some investors are looking to small strip centers along major thoroughfares that are not management intensive,” says Zylberglait.
The 9,849-square foot building is situated on 1.6 acres and is leased to FedEx Office and AT&T Mobility under double-net terms with landlord responsible for roof and structure.
“This location serves the high-income residential community of Doral Park and Costa del Sol. The daytime employment population is very strong with many office parks east of the property as well as industrial parks to the west,” he adds.
Located along NW 41st Street, the area’s main retail corridor, the property is centrally located between the Palmetto Expressway and Florida’s Turnpike. FedEx / AT&T is located at 10003/5 NW 41st Street in Doral, FL.