ARC Trust Buys Memphis Walgreens
Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 2,964-square foot net-leased TD Bank property in Miami, Florida. TD Bank signed a 20 Year Absolute NNN Ground Lease on the site and plans to start construction as soon as possible. “The demand for brick and mortar bank branches in high income, primary markets, like Miami are very favorable and in high demand” says Britti. “We anticipate very high deposits at this branch due to the high traffic location and high income demographics of the surrounding community” adds Issenberg.
The property is located at 14395 S. Dixie Highway in Miami, Florida. TD Bank is one the 10 largest banks in the United States. The asset is situated next to the Falls Mall, which sees daily traffic counts that exceed 92,000 vehicles per day.
Ronnie Issenberg and Gabriel Britti, both vice presidents investments in Marcus & Millichap’s Miami office, represented the seller and procured the buyer.
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….
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