Press Releases
Marcus & Millichap Brokers $6.5 Million Sale of Office Building in North Miami Beach
December 05, 2025
MIAMI, Dec. 5, 2025 – 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 International City Building I, a three-story office property in North Miami Beach, Florida. The asset sold for $6,500,000.
“This is a strategic asset directly across Jackson North Medical Center ideal for the Buyer a medical owner user,” said Alex Zylberglait, Executive Managing Director investments in Marcus & Millichap’s Miami office. “The asset has direct access to all major transportation corridors in the growing North Miami Beach submarket.”
Zylberglait and Michael Crocchiola represented the seller, an entity owned and managed by The Faith Group who also own a portfolio of commercial assets in the region.
“It made perfect sense for the buyer to make this building their new home for their medical needs, given their many years in the vicinity and their need for further expansion,” added Roy Faith, SVP of The Faith Group.
Located at 150 NW 168th St., the property contains 25,902 square feet of net rentable area on a 0.86-acre site with 85 parking spaces and a parking ratio of 3.3 spaces per 1,000 square feet. Built in 1973 and extensively renovated, the building has been exceptionally maintained, with more than $3 million in recent capital improvements and completion of its 40-year recertification in 2023. The asset features two elevators, covered parking and a flexible layout suitable for medical, professional office and service users.
International City Building I is positioned near the Golden Glades Interchange, providing immediate connectivity to Interstate 95, Florida’s Turnpike, State Road 441, State Road 9 and the Palmetto Expressway. The property sits directly in front of Jackson North Medical Center, enhancing its appeal for healthcare-related tenants and owner-users.
“This is a strategic asset directly across Jackson North Medical Center ideal for the Buyer a medical owner user,” said Alex Zylberglait, Executive Managing Director investments in Marcus & Millichap’s Miami office. “The asset has direct access to all major transportation corridors in the growing North Miami Beach submarket.”
Zylberglait and Michael Crocchiola represented the seller, an entity owned and managed by The Faith Group who also own a portfolio of commercial assets in the region.
“It made perfect sense for the buyer to make this building their new home for their medical needs, given their many years in the vicinity and their need for further expansion,” added Roy Faith, SVP of The Faith Group.
Located at 150 NW 168th St., the property contains 25,902 square feet of net rentable area on a 0.86-acre site with 85 parking spaces and a parking ratio of 3.3 spaces per 1,000 square feet. Built in 1973 and extensively renovated, the building has been exceptionally maintained, with more than $3 million in recent capital improvements and completion of its 40-year recertification in 2023. The asset features two elevators, covered parking and a flexible layout suitable for medical, professional office and service users.
International City Building I is positioned near the Golden Glades Interchange, providing immediate connectivity to Interstate 95, Florida’s Turnpike, State Road 441, State Road 9 and the Palmetto Expressway. The property sits directly in front of Jackson North Medical Center, enhancing its appeal for healthcare-related tenants and owner-users.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
