Brokers

Marcus & Millichap : Brokers Sale of 5,775 Land Development in Miami

MIAMI, July 11, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1794 Northeast 4th Avenue in Miami, Florida. The 5,775-square-foot land development sold for $2.2 million.

“The sale of the property was an excellent opportunity for the owner to add additional land to his current holdings, allowing for a better design for his future development in this hot area of Miami,” said Ryan Shaw, first vice president of investments in Marcus & Millichap’s Miami office. Shaw and Ahmed Kabani, first vice president investments, had the exclusive property listing to market on behalf of the seller, a fund manager. Kabani and Shaw also procured the buyer, Vinay Rama, head of Miami-based Mandala Holdings.

Centered in a prime location in Miami, the 0.13-acre land development is situated off the high-traffic area of Biscayne Boulevard and NE 18th Street. The property is within 2 miles of Wynwood, The Shoppes at Midtown Miami, and is surrounded by luxury condominiums, restaurants, and nationally known retailers, including Publix, Starbucks, and GNC.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visitwww.MarcusMillichap.com.

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