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Commercial Real Estate Tips From Marcus & Millichap

Marcus & Millichap Brokers Sale of Holiday Inn Express Property in Florida City

The 105-room hospitality property is at 35200 S Dixie Hwy near Everglades National Park.

| SFBW Staff

Marcus & Millichap (NYSE: MMI) recently completed the sale of a Holiday Inn Express property in Florida City. The 105-room asset is a three-story building built in 2005 and situated on a 2.9-acre lot, sold for $10 million. 

“Florida continues to attract out-of-state capital despite the current economic uncertainty,” Ahmed Kabani says, an investment specialist in Marcus & Millichap’s Miami office, a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services. “After numerous offers, we were able to secure a strong 1031 exchange buyer from California who closed with cash.” 

Kabani and Suraj Dalal, another investment specialist 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 limited liability company, was procured by Kabani and Dalal.

Marcus & Millichap closed over 12,200 transactions in 2022, with a sales volume of approximately $86.3 billion.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.