MIAMI, Fla., Jan. 7, 2022– 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 Little River, a 47,654-square foot industrial property located in Miami, Florida. According to Ryan Nee, first vice president and district manager of the firm’s Miami office, the asset sold for $13 million.

“This deal is a fantastic value add acquisition by a creative buyer in very competitive market,” said Michael Alaoui, senior associate in Marcus & Millichap’s Miami office. The buyer, OM Capital, was secured and represented by Alaoui.

Little River Industrial is located at 240-300 NE 72nd Street in Miami, Florida. The area has seen significant development activity in the last few years with the addition of large-scale developments, including the Magic City Innovation District in Little Haiti. The 18-acre development is within 1 mile of the Little River property and is expected to reshape the landscape in the years to come.