NKF Capital Markets Sells Two South Florida Land Sites Totaling $9 Million

1/9/18

New Developments Expected for Miami Gardens and Delray Beach Properties

NKF Capital Markets announces two South Florida land sales: the $4 million sale of a 3.5-acre land site in Miami Gardens and the $5 million sale of a 3-acre parcel in Delray Beach.

NKF Capital Markets Executive Managing Director Adam Greenberg, Executive Managing Director Michael Lapointe, and Managing Director Michael Lohmann represented the sellers in both transactions. The team is based in Miami and handles transactions throughout the Southeast.

“These are two of the last developable tracts of land of this size within these submarkets,” said Greenberg. “The properties are zoned for various uses with a tremendous potential for the new owners.”

United Automobile Insurance Company sold the Miami Gardens parcel at located at 1313 NW 167th. The parcel is located west of the Golden Glades intersection of I-95, the location has easy access to U.S. 441, Florida's Turnpike, the Palmetto Expressway (S.R. 826) and State Road 9.

“With its prime location and easy access to major highways, the property has attracted car dealerships, multifamily developers, home furniture stores and medical users,” added Lohmann. “The high traffic counts and visibility from the Palmetto make it an ideal location for companies seeking to expand their existing facilities or establish a greater presence in the North Dade submarket.”

Delray Outpatient Properties LLC, sold the Delray Beach site at 4675 Linton Boulevard. The property is adjacent to a 31,886-square-foot, two-story medical office building with an outpatient surgical center and private medical practices. The land parcel fronts on Linton Boulevard, a high-traffic east-west artery, and is just east of Military Trail. New ownership plans to develop a high-end medical facility.

About Newmark Knight Frank

Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing, corporate advisory services, consulting, project and development management, property and corporate facilities management services, valuation and advisory services, and capital markets services provided through its NKF Capital Markets brand. For further information, visit  www.ngkf.com.

NKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit  www.bgcpartners.com.

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