Press Releases
Marcus & Millichap Arranges $17.3 Million Sale of Industrial Portfolio in Medley Florida
August 14, 2024
MEDLEY, Fla., August 14, 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 adjacent two-property small bay industrial portfolio in Medley, Fla., for $17,288,265.
"Despite a challenging high-interest environment and scarcity of reasonably priced inventory, we were able to leverage our market expertise and deliver value for our clients in sought-after quality submarkets," said Michael Alaoui, first vice president of investments in Marcus & Millichap’s Miami office.
Located at 9090-9092 NW South River Drive, this small bay industrial portfolio is just a few blocks west of the Palmetto Expressway, making it a desirable location for most small businesses. It comprises a total of 62 units spanning more than 80,000 square feet on a 4.06-acre corner lot. Michael Alaoui represented both the buyer and seller in this off-market transaction.
"Despite a challenging high-interest environment and scarcity of reasonably priced inventory, we were able to leverage our market expertise and deliver value for our clients in sought-after quality submarkets," said Michael Alaoui, first vice president of investments in Marcus & Millichap’s Miami office.
Located at 9090-9092 NW South River Drive, this small bay industrial portfolio is just a few blocks west of the Palmetto Expressway, making it a desirable location for most small businesses. It comprises a total of 62 units spanning more than 80,000 square feet on a 4.06-acre corner lot. Michael Alaoui represented both the buyer and seller in this off-market transaction.
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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.
