Marcus & Millichap Inc.
11/12/2024 | Press release | Distributed by Public on 11/13/2024 16:43
Marcus & Millichap Arranges $5 Million Sale of Retail Destination Steps from Cocoa Beach
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Marcus & Millichap Arranges $5 Million Sale of Retail Destination Steps from Cocoa Beach
November 12, 2024
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COCOA BEACH, Fla., Nov. 12, 2024 - 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 an 8,870-square-foot, fully occupied prime beachside retail center in Cocoa Beach, Florida, for $5,015,000.
"The sale of this extremely well-located asset demonstrates the continued demand for core, beachside retail in FL," says David Vaughan, first vice president investment.
Vaughan, Ryan Gonzales, Ray Turchi, and Casey Studstill of Marcus & Millichap exclusively marketed the property on behalf of the seller, a Florida-based private investor. Evan Cannan and Reid Thedford from the firm's Tampa office procured the buyer, a private investor.
"It was great working collaboratively with our Orlando office. Having immediate internal access to quality inventory allows us to best serve our clients at Marcus & Millichap," added Cannan, senior associate.
Located at 1 S Atlantic Ave., the property is within walking distance of the beach and benefits from high foot traffic. Tenants include Tropics Cocktail Bar, Cat 5 Bar & Nightclub, Hunkerdown Hideaway, Luna at Kahuna's, and Ocean Sports World.
"The sale of this extremely well-located asset demonstrates the continued demand for core, beachside retail in FL," says David Vaughan, first vice president investment.
Vaughan, Ryan Gonzales, Ray Turchi, and Casey Studstill of Marcus & Millichap exclusively marketed the property on behalf of the seller, a Florida-based private investor. Evan Cannan and Reid Thedford from the firm's Tampa office procured the buyer, a private investor.
"It was great working collaboratively with our Orlando office. Having immediate internal access to quality inventory allows us to best serve our clients at Marcus & Millichap," added Cannan, senior associate.
Located at 1 S Atlantic Ave., the property is within walking distance of the beach and benefits from high foot traffic. Tenants include Tropics Cocktail Bar, Cat 5 Bar & Nightclub, Hunkerdown Hideaway, Luna at Kahuna's, and Ocean Sports World.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.