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 1590 South Congress Avenue, a 8,989 square foot office property located in West Palm Beach, according to Ryan Nee, vice president / regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,600,000.

“The seller purchased the property over 18 years ago from Marcus & Millichap as a single tenant investment. The property sold for sustainably more than his original investment,” stated Marc Strauss, senior vice president in Marcus & Millichap’s Fort Lauderdale office.

Strauss and Howard Bregman, first vice president investments, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor, and represented the buyer, a private investor.

The Property is located at 1590 South Congress Avenue in West Palm Beach, FL. The property consists of two connecting buildings totaling 8,989 square feet on 1.4 acres had been occupied by Humana for over twenty years. The buyer plans to rehab the building to meet their needs.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 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 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap 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