Press Releases
Marcus & Millichap Brokers $3.5M Sale of Retail Property in West Palm Beach for Redevelopment
March 17, 2026
WEST PALM BEACH, Fla., Mar. 17, 2026 – 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 2063 Palm Beach Lakes Blvd., an 8,450-square-foot freestanding retail property in West Palm Beach, Florida. The property sold for $3.5 million.
“City Furniture strategically acquired this parcel adjacent to their existing West Palm Beach location as part of a plan to expand its footprint and redevelop the site,” said Nicholas McAndrew, director investments. “The acquisition reflects the company’s continued investment in markets where it already has a strong presence and highlights the demand for well-located retail sites in South Florida.”
Nicholas McAndrew of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private trust, and secured the buyer, City Furniture.
Built in 1979, the property sits on approximately 0.87 acres along Palm Beach Lakes Boulevard, a major commercial corridor in West Palm Beach. The building was vacant at the time of sale and was previously occupied by Bedding Barn.
“The off-market transaction highlights the value of local market knowledge and strong broker relationships in facilitating strategic acquisitions for expanding brands in South Florida,” McAndrew added.
“City Furniture strategically acquired this parcel adjacent to their existing West Palm Beach location as part of a plan to expand its footprint and redevelop the site,” said Nicholas McAndrew, director investments. “The acquisition reflects the company’s continued investment in markets where it already has a strong presence and highlights the demand for well-located retail sites in South Florida.”
Nicholas McAndrew of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private trust, and secured the buyer, City Furniture.
Built in 1979, the property sits on approximately 0.87 acres along Palm Beach Lakes Boulevard, a major commercial corridor in West Palm Beach. The building was vacant at the time of sale and was previously occupied by Bedding Barn.
“The off-market transaction highlights the value of local market knowledge and strong broker relationships in facilitating strategic acquisitions for expanding brands in South Florida,” McAndrew added.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
