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Marcus & Millichap Brokers the $6.3M Sale of Shopping Plaza on Commercial Blvd.

June 07, 2022

Fort Lauderdale, Fla., June 7, 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 Westcom Plaza, a 21,358-square-feet strip center which includes Donna’s Caribbean, a free-standing restaurant. The property sold for $6.3 million.

“Westcom Plaza is a fully occupied strip center along West Commercial Boulevard, with excellent frontage, access and visibility,” said Kirk Olson, senior vice president investments for Marcus & Millichap.

Olson and Drew Kristol, senior vice president investments in Marcus & Millichap’s Miami office had the exclusive listing to market on behalf of the seller, Cervera RE Ventures, based in Miami. The buyer, Freshwater Group, LLC, is based in New York and was also procured by Olson and Kristol.

Westcom Plaza, located at 2901 W. Commercial Blvd., consists of 14 tenants and a free-standing building occupied by Donna’s Caribbean restaurant, which operates several locations throughout South Florida. The seller recently signed a new lease for a 3,984-square-foot endcap restaurant, which brought the center’s occupancy to 100%.

The plaza is ideally situated between the Florida Turnpike and Interstate 95 (I-95).

 

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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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