Marcus & Millichap Brokers $5.65 Million Retail Center Sale in Sunrise

SUNRISE, Fla., Sept. 30, 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 West Commercial Landings, an 11,700 square foot retail center in Sunrise, Florida, for $5,650,000.

"West Commercial Landings not only had immediate leasing upside but also very little deferred maintenance," said listing agent Drew A. Kristol. "There were multiple offers from both local and national buyers looking to move capital into South Florida."

Kristol and Kirk D. Olson, senior managing directors of investments in Marcus & Millichap's Miami office, exclusively marketed the property on behalf of the seller, Konover South, and procured the buyer, an out-of-state private investor.

Located at 9440 W Commercial Blvd., the property sits on 2.45 acres just west of NW 94th Avenue and Nob Hill Road. The center, made up of two small bay retail buildings, is 87% occupied with national retailers including Huey Magoo's, McAlister's Deli, Verizon Wireless, and Papa John's. A 1,500-square-foot bay remains vacant, offering leasing potential.

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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.