Press Releases
Marcus & Millichap Brokers $11.95M Sale of Retail Center in Miami’s Palmetto Bay
April 01, 2026
MIAMI, April 1, 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 Coral Reef Plaza, a 29,115-square-foot shopping center in Miami’s Palmetto Bay neighborhood. The property sold for $11,950,000.
“We are proud to announce the sale of this generational asset located along U.S. 1 in the Palmetto Bay submarket of Miami-Dade County,” said Jonathan De La Rosa, senior managing director investments. “Through a targeted marketing process, we generated multiple competitive offers and ultimately selected the most qualified buyer. We also played a key role in structuring favorable owner financing terms to help bring the transaction to a close.”
De La Rosa and Eddie Toledo of Marcus & Millichap procured the buyer in the transaction.
“This sale marks our fifth transaction along the U.S. 1 corridor over the past 12 months, further reinforcing our team’s strong presence and expertise in this highly sought-after trade area,” De La Rosa said.
Located at 15295 and 15315 S. Dixie Highway, the 1.91-acre property includes 34 suites across a mix of retail and office space, including a freestanding Taco Bell, a multi-tenant retail strip and a mixed-use building.
The property is positioned at the intersection of U.S. 1 and Southwest 152nd Street and is less than five minutes from Jackson South Medical Center. The surrounding area includes established residential neighborhoods and neighborhood-serving retail.
“We are proud to announce the sale of this generational asset located along U.S. 1 in the Palmetto Bay submarket of Miami-Dade County,” said Jonathan De La Rosa, senior managing director investments. “Through a targeted marketing process, we generated multiple competitive offers and ultimately selected the most qualified buyer. We also played a key role in structuring favorable owner financing terms to help bring the transaction to a close.”
De La Rosa and Eddie Toledo of Marcus & Millichap procured the buyer in the transaction.
“This sale marks our fifth transaction along the U.S. 1 corridor over the past 12 months, further reinforcing our team’s strong presence and expertise in this highly sought-after trade area,” De La Rosa said.
Located at 15295 and 15315 S. Dixie Highway, the 1.91-acre property includes 34 suites across a mix of retail and office space, including a freestanding Taco Bell, a multi-tenant retail strip and a mixed-use building.
The property is positioned at the intersection of U.S. 1 and Southwest 152nd Street and is less than five minutes from Jackson South Medical Center. The surrounding area includes established residential neighborhoods and neighborhood-serving retail.
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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.
