Marcus & Millichap Brokers $3.2 Million Sale of Riviera Beach Industrial Property
“This trade illustrates the continued demand for industrial properties throughout South Florida,” states Zach Levine, associate. “Well-located industrial assets continue to demonstrate signs of strength, as vacancy rates are exceptionally low and rental rates continue to increase.”
Levine and Douglas Mandel, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, T.C Industrial Associates, Inc. The buyer, a local LLC, was also procured by Mandel and Levine.
Built in 2003, this industrial property boasts a net rentable area of 17,682 square feet. Featuring six overhead doors and 18-foot ceilings within its units. It offers convenient access to 1-95, located 3.4 miles away, and is in close proximity to national retailers such as Walmart Supercenter, Costco, and Bank of America.
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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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.