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Marcus & Millichap Closes Deal on 47,654-SF Industrial Property Near Magic City Innovation District for $13M

January 19, 2022

MIAMI, Fla., Jan. 19, 2022 – 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 Little River, a 47,654-square foot industrial property located in Miami, Florida. According to Ryan Nee, first vice president and district manager of the firm’s Miami office, the asset sold for $13 million.

“This deal is a fantastic value add acquisition by a creative buyer in very competitive market,” said Michael Alaoui, senior associate in Marcus & Millichap’s Miami office. The buyer, OM Capital, was secured and represented by Alaoui.

Little River Industrial is located at 240-300 NE 72nd Street in Miami, Florida. The area has seen significant development activity in the last few years with the addition of large-scale developments, including the Magic City Innovation District in Little Haiti. The 18-acre development is within 1 mile of the Little River property and is expected to reshape the landscape in the years to come.

 

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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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