Marcus & Millichap Brokers $8.25 Million Sale of Hollywood Beach Retail Property

A prominent retail property on Hollywood Beach recently changed hands for $8.25 million, with Marcus & Millichap brokering the significant transaction. The deal, which closed recently, involved a 10,000-square-foot retail building located at 300 S. Broadwalk.

The property, situated directly on the bustling Hollywood Beach Broadwalk, is a well-known fixture in the area, housing several popular businesses that cater to both tourists and local residents. Its prime location offers direct beach access and high foot traffic, making it a desirable asset in the South Florida commercial real estate market.

Evan P. Kristol, a Senior Managing Director in Marcus & Millichap’s Fort Lauderdale office, along with Felipe J. Echarte, an Associate in the same office, represented the seller in the transaction. The buyer was also secured by Kristol and Echarte, highlighting their deep understanding of the local market and extensive network.

“This sale underscores the continued strong investor interest in well-located retail properties along South Florida’s coastal communities,” stated Kristol. “The Hollywood Beach Broadwalk is a unique and vibrant destination, and properties like this rarely come to market. We were pleased to facilitate a smooth transaction for both parties.”

The retail center is home to a mix of tenants, including eateries and souvenir shops, contributing to the lively atmosphere of the Broadwalk. The new ownership is expected to maintain the current tenant mix, ensuring continuity for the businesses and the community.

This transaction reflects the ongoing strength of the commercial real estate sector in the Miami metropolitan area, particularly for properties with strategic locations and established customer bases. Local residents and visitors alike can expect the businesses at 300 S. Broadwalk to continue serving the Hollywood Beach community.