162
MIAMI BEACH, FLA. — Marcus & Millichap has brokered the $22.5 million sale of The Gateway to Miami Beach, two net-leased retail buildings totaling more than 18,000 square feet in Miami Beach. The property is located at 1100 5th St. on the southeast corner of 5th Street and Alton Road in South Beach’s South of Fifth (SOFI) neighborhood. The two net-leased buildings are fully leased to Pier 1 Imports and Burger King. Scott Sandelin of Marcus & Millichap’s Miami office represented the seller, a Miami Beach-based limited liability company, in the transaction. Jonathan Gerszberg of Marcus & Millichap’s Miami office secured the buyer, a private investor based in New York.