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Marcus & Millichap Brokers $4M Sale of MF Property in Vero Beach

Marcus & Millichap has arranged the $4.1 million sale of Vero Beach Property, an 18-acre multifamily development site in the Harbor Bluffs community near the Cleveland Clinic in Vero Beach. The parcel is planned for a 285-unit apartment community.

Harbor Bluffs was created as a mixed-use development with varying types for residential sections with 624 residences approved on 80 acres with the potential for senior care and medical uses as well. Part of the development includes a public-private partnership with Indian River County that will see the construction of a new road through Harbor Bluffs connecting to roads around the hospital.

Paul Bouldin and Debra Franklin of Marcus & Millichap represented the seller, a Family Partnership, in the transaction. The buyer, a limited liability company, was secured and represented by Bouldin.

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Inside The Story

Marcus & Millichap’s Bouldin

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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