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 Palm Beach Eye Clinic, a 3,111-square foot net-leased property located in West Palm Beach, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,045,000 equating to $336 per square foot.
Barry M. Wolfe, first vice president investments, and Alan Lipsky, associate, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Palm Beach, Fla and the buyer, a limited liability company from West Palm Beach, Fla.
“Through our marketing process we generated nearly fifteen offers from local, out-of-area and international buyers,” says Wolfe. “Ultimately the property was purchased by a local buyer. We are continuing to see a very strong interest in net leased properties. This is the fourth single tenant property in Palm Beach County that our team has sold in the recent weeks. Every asset received very strong interest and sold at an aggressive price.”
Palm Beach Eye Clinic has been in business for more than 30 years and treats thousands of patients each year. The clinic is located in an ideal South Florida location, one-half mile from Good Samaritan Medical Center, at 130 Butler Street in West Palm Beach, Fla.
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.
