M&M closes sale of 12-warehouse portfolio

HOLLYWOOD - Marcus & Millichap Real Estate Investment Services announced the sale of a warehouse portfolio consisting of 12 warehouse properties on seven parcels in Hollywood. The portfolio commanded a sales price of $1,815,000, representing $41 psf.

Associate Ryan D. Nee of the Fort Lauderdale office represented the seller of the property, a limited liability company from Hollywood. Nee also secured the buyer, a limited liability company from Coconut Creek.

The 12 warehouse properties total 44,400sf among 64 units and were 90% occupied at the time of the sale. The buildings are situated just north of Pembroke Road and east of SR 7 in Hollywood.