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Marcus & Millichap brokers sale of ground lease in West Palm Beach

July 03, 2012 09:45AM

A Sweet Tomatoes ground lease has been sold for $1.94 million, according to Spencer Yablon, vice president and regional manager in Marcus & Millichap’s Philadelphia office. Matthew Gorman and Michael Shover of Marcus & Millichap’s Fort Lauderdale office and Robert Granda in the firm’s Fort Lauderdale office had the exclusive listing on behalf of the seller, a limited liability company from New Jersey. The buyer was a limited liability company from South Florida, which was represented by Gorman, Shover, Granda and Douglas Mandel. Kirk Felici, broker of record in the Florida office, helped in closing the transaction. The 6,800-square-foot Sweet Tomatoes is located at 1900 Palm Beach Lakes Boulevard in West Palm Beach. At closing it had 13 years left on a ground lease. — Alexander Britell