Marcus & Millichap Exclusively Lists Miami Beach Macy’s

 Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the exclusive listing of 1675 Meridian Avenue, a 98,610-square-foot Macy’s property in Miami Beach, Florida.

“This unique offering presents the opportunity for an investor to acquire one of the largest parcels on Miami Beach with significant future upside,” said Scott C. Sandelin, senior vice president investments in Marcus & Millichap’s Miami office. “The asset is located just north of Lincoln Road, across from the Miami Beach Convention Center and the 800-room Grand Hyatt Hotel, which will be developed immediately across the street.”

Sandelin and Alejandro D’Alba, senior associate, have the exclusive listing to market the property on behalf of the seller, a limited liability company. “Lincoln Road is a 515,000-square-foot, open-air, pedestrian-only, retail and entertainment center running east/west between 16th and 17th streets from Alton Road to Washington Avenue,” added D’Alba. “While 1675 Meridian is being marketed unpriced, we expect it to trade at approximately $20 million.” 

About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 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.