The Real Deal Miami

Aventura portfolio hits market asking $20M

February 08, 2013 04:00PM

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2925 Aventura Boulevard and 2929 Aventura Boulevard

A portfolio of three Aventura properties has hit the market asking $19.9 million, Marcus & Millichap Real Estate Investment Services, which has the exclusive listing, announced today.

The portfolio includes a 32,932-square-foot medical office building with adjacent land for development, located at 2925 Aventura Boulevard, a 5,200-square-foot Wells Fargo bank ground lease, expiring in March in 2030, located at 2929 Aventura Boulevard and a one-acre development site adjacent to 2925 Aventura Boulevard.

Alex Zylberglait, a vice president of investments in Marcus & Millichap’s Miami office, is representing the seller, a local property owner.

“The portfolio provides investors with an opportunity to generate a stable return from the medical office building and the bank’s long-term ground lease,” Zylberglait said. “There are plans in place to build a 45,000-square-foot office building with an additional 12,000 square feet of retail on top of structured parking on the land adjacent to the building.”

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