MIRAMAR, Fla., May 11, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Wells Fargo, a 3,796-square foot net-leased property located in Miramar, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $2,620,000.
Jim Shiebler, James Garner and James Medefind, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Aaron O’Connor, an investment specialist in Marcus & Millichap’s Fort Lauderdale office.
“This sale was truly unique. By creating a highly competitive environment with multiple buyers vying for the asset, we yielded truly incredible results for the seller as the property sold for $20,000 ABOVE list price to a 1031 exchange buyer!” states Mr. Shiebler.
“Driven by their belief in the stability of Investment Grade tenants in South Florida and the prime location and quality of this asset, the Buyer was motivated to close, even during the height of uncertainty surrounding COVID-19,” adds Mr. O’Connor.
Wells Fargo is located at 18499 Miramar Parkway in Miramar, Fla. The city ofMiramar, Fla is known for its large master-planned communities, making it the ideal suburb of Broward county for young, growing families. It is a principal city in the Miami metropolitan area boasting a population of 122,041.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.