Aventura Portfolio Goes On The Block For $20M

Three Aventura properties have hit the market, asking $19.9 million.
Alex Zylberglait, vice president of investments with Marcus & Millichap’s Miami office, is representing the seller, a local property owner.
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.
“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.”
 
Source:  The Real Deal