Miami – Plaza Del Rey was 95 percent occupied at the time of sale.
Miami – Marcus & Millichap has sold Plaza Del Rey, a 50,186-square-foot shopping center in Miami, for $11.6 million, or $231 per square foot. Drew Kristol and Kirk Olson, vice presidents investments in Marcus & Millichap’s Miami office, represented the seller, a Miami-based LLC. Kristol and Olson also represented the buyer, another locally based LLC. Plaza Del Rey is located on 4.5 acres, one mile from Florida International University. At the time of the sale, Plaza Del Rey was 95 percent occupied. The center is anchored by a 14,000-square-foot Navarro Discount Pharmacy. Other tenants include Rent-A-Center, T-Mobile and Vicky Bakery.
— Scott Reid