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 Commercial Plaza , a 45,060-square foot retail property located in Tamarac, FL, according to Scott Lunine, regional manager of the firm’s Miami office. The asset sold for $4,700,000.

Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, arranged the sale between two private investors.

Commercial Plaza is located at 5301 N State Road 7 in Tamarac, FL. The buyer plans to capitalize on the property’s exposure to high traffic volume on State Road 441 and enhance the property through capital improvements and leasing up the existing vacancies, which amount to over 40% of the shopping center.

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