When Marcus & Millichap executives Douglas Mandel and Benjamin Silver and associate Richard Niewiadomski undertook an assignment to sell a five-story Coral Gables office building, they faced the unenviable task of marketing an income-generating building that would be vacant by the time a potential sale closed.
On the one hand, the property at 1701 Ponce de Leon Blvd. would be attractive to a buyer seeking freestanding office space in one of Miami-Dade County’s most affluent submarkets. But on the other, its longtime tenant, Simply Healthcare Plans, was months away from vacating the space.
