Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Kidney Spa Hialeah Dialysis, a 5,447 square-foot net-leased property located in Hialeah, Fla. The asset sold for $7,043,478. Marcus & Millichap Capital Corporation (MMCC) arranged the $3,828,000 acquisition financing.
This sale illustrates the demand for well located, Absolute Net-Lease commercial real estate investments in the heart of Miami-Dade County”, said Ronnie Issenberg, senior managing director investments, “Hialeah is one of the most densely populated submarkets of Miami. The population within a one-mile radius of this property exceeds 28,000 people. This is certainly an underserved submarket in relation to medical services” adds Gabriel Britti, senior managing director investments.
The buyers, Howard Sorkin, President, and Jason Sorkin, Vice President, of Sierra Assets were represented by Issenberg, Gabriel Britti, senior managing director, Ricardo Esteves, vice president, and Kevin O’Hanlon, investment specialists in Marcus & Millichap’s Miami office.
Robert Bhat, senior managing director, capital markets with MMCC in Miami, arranged financing on behalf of the borrower. “We were able to secure a ten-year term including a fixed interest rate of 6% with 25-year amortization,” said Bhat. “Our team worked seamlessly with the client, lender and agents to provide the most attractive terms in a timely fashion.”
Kidney Spa Hialeah Dialysis is located at 4286 Palm Ave. in Hialeah, Florida just a block from Hialeah’s major retail corridor on W 49th St. and within 5 miles of Palmetto General Hospital, North Shore Medical Center, and Interstate 95.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
