Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Gordon Food Service Marketplace, a 17,431-square foot net-leased grocery store located in Miami. The asset sold for $6,735,000.

“This was a unique opportunity to acquire a double-net, investment grade asset leased to a corporate-guaranteed retail grocer with more than seven years remaining on its base term,” says Ronnie Issenberg, a vice president investments in Marcus & Millichap’s Miami office. “The property sold for just under list price to a local private real estate investor.”

Issenberg, along with Gabriel Britti and Scott C. Sandelin, vice president investments, and Al Palacios, a senior associate, also in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller.

The 17,431-square foot GFS Marketplace is situated on a 45,100-square foot lot near the Miami International Airport. With more than 170 locations across the United States, GFS Marketplace the largest family-operated broad line food distribution company in North America.

The property is located at 5600 West Flagler Street.

About Marcus & Millichap (NYSE: MMI)

With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.