Marcus & Millichap (NYSE: MMI) finalized the sale of Design Center, a 71,540-square-foot industrial property in Miami, for $13.25 million.
“This is a legacy property that will provide the new investor with extraordinary upside in rents and future redevelopment opportunity,” Alex D. Zylberglait says, senior managing director of investments at Marcus & Millichap. “Its key location right off the Palmetto Expressway will serve its tenants well and will attract a multitude of businesses.”
Zylberglait and Michael Crocchiola, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Alex D. Zylberglait and Michael Crocchiola,
The property is located at 4180-4182 Southwest 74th Court and is parallel to Tropical Park Stadium and near national retailers and restaurants, including Target, BestBuy, McDonald’s and Publix.