{"id":1004164339,"date":"2017-01-17T05:15:22","date_gmt":"2017-01-17T13:15:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004164339"},"modified":"2022-12-08T23:56:02","modified_gmt":"2022-12-09T07:56:02","slug":"marcus-millichap-closes-miami-retail-center-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-miami-retail-center-sale\/","title":{"rendered":"Marcus &amp; Millichap Closes Miami Retail Center Sale"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004164341\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Flagler-Station-Shops-Miami.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004164341\" data-attachment-id=\"1004164341\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-miami-retail-center-sale\/flagler-station-shops-miami\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Flagler-Station-Shops-Miami.jpg\" data-orig-size=\"580,379\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Flagler Station Shops, Miami\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Flagler Station Shops, Miami&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Flagler-Station-Shops-Miami.jpg?w=580\" class=\"wp-image-1004164341 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Flagler-Station-Shops-Miami.jpg\" alt=\"Flagler Station Shops, Miami\" width=\"300\" height=\"196\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Flagler-Station-Shops-Miami.jpg 580w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Flagler-Station-Shops-Miami.jpg?resize=300,196 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004164341\" class=\"wp-caption-text\">Flagler Station Shops, Miami<\/p><\/div>\n<p><strong>Miami<\/strong>\u2014Marcus &amp; Millichap recently announced that it has closed the sale of Flagler Station Shops, a 42,800-square-foot retail center in Miami. The asset traded for $9.6 million, nearly $224 per square foot.<\/p>\n<p>Drew Kristol and Kirk Olson, vice presidents of investments with Marcus &amp; Millichap\u2019s Miami office, represented the undisclosed New York-based seller. The buyer of the asset was a private investment group from Miami.<\/p>\n<p>Situated at 10505 NW 112 Ave. in the center of Flagler Station, the property built in 2001 is located in close proximity to Florida\u2019s Turnpike between Doral and Hialeah Gardens, being the only retail property that serves the area\u2019s high-density daytime population. The single-story asset is located on a 5.02-acre site and offers ample parking. At the time of the transaction, the Class A property was 95 percent occupied by a mix of local office and retail tenants.<\/p>\n<p>\u201cFlagler Station Shops is the primary retail shopping center servicing Flagler Station, South Florida\u2019s largest business park, which has over 10.5 million square feet of industrial and office space,\u201d said Kristol in a prepared statement. \u201cThe location is in a growing commercial corridor fronting NW 106th Street, just off Florida\u2019s Turnpike and north of the high-end Doral submarket.\u201d<\/p>\n<p><em>Image courtesy of The Olson Kristol Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property, which changed hands for $9.6 million, was 95 percent occupied at the time of the transaction.<\/p>\n","protected":false},"author":1192,"featured_media":1004164341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1492,21742,21749],"tags":[33500,33501,32864],"class_list":["post-1004164339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-miami","category-latest","category-retail","tag-drew-kristol","tag-flagler-station","tag-marcus-and-millichap"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marcus &amp; Millichap Closes Miami Retail Center Sale - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-miami-retail-center-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marcus &amp; Millichap Closes Miami Retail Center Sale\" \/>\n<meta property=\"og:description\" content=\"The property, which changed hands for $9.6 million, was 95 percent occupied at the time of the transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-miami-retail-center-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-17T13:15:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:56:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Flagler-Station-Shops-Miami.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"580\" \/>\n\t<meta property=\"og:image:height\" content=\"379\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mihaela Coste\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-miami-retail-center-sale\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-miami-retail-center-sale\/\",\"name\":\"Marcus &amp; 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