Marcus & Millichap Brokers 6,700-SF Architect and Design Building in Delray Beach

DELRAY BEACH, Fla., October 7, 2021 - 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 KWD Landscape Architect and Design Building, a 6,700-square-foot, two-story building located in Delray Beach, FL, according to Ryan Nee, regional manager of the firm's Fort Lauderdale office. The asset sold for $3,599,000.

"I see this property as a gateway, bridging downtown Delray to Osceola Park Neighborhood and Arts District while taking advantage of the recent completion of new parking areas (61 additional spaces) and over 200 yards of sidewalks, lighting, landscaping, and beautification along the railway corridor. All of which was developed in a public/private partnership that included Rosen Associates Development with the City of Delray Beach," said Brian L. Rosen, first vice president investments in Marcus & Millichap's Fort Lauderdale office.

The buyer, Rosen Associates Development, was secured and represented by Brian Rosen. As part of the deal, the seller will occupy the second floor of the building under a new lease. The future plans include repositioning this asset into a free-standing restaurant to take advantage of its prime location just one block from the intersection of Pineapple Grove and Atlantic Avenue to the South.

It is the latest deal for Rosen Associates Development, which now owns more than 2.5 acres (14 parcels) to the south of where they are currently developing a 200-unit apartment building/site plan.

Marcus and Millichap's Brian Rosen also brokered that multifamily site as an off-market deal. "There are a lot of exciting things happening on the Southside of Delray Beach," added Rosen.

Rosen Associates Development is familiar with the real estate boom happening within Delray Beach. Their foothold in the area also includes the development of The O.G., an eclectic cocktail bar/restaurant hidden under the austere as an old-time grocery store.

The KWD Architect and Design Building is located at 101 SE 2nd Ave in Delray Beach, Florida, just one block from the most robust intersection in Delray Beach, Atlantic Avenue and Pineapple Grove.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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