$19.47 Million Retail Asset Sale Brokered by Marcus & Millichap in Canada
October 19, 2018
OSHAWA, Ontario, Oct. 19, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of 850 King Street West, an 82,149-square-foot multi-tenant retail plaza in Oshawa, Ontario. The asset traded at a price of $19,475,000.
“The buyer is Victor Lopez, president of Frastell Associates Inc.,” said Andrew Riley, senior associate in Marcus & Millichap’s Toronto office. “Mr. Lopez, who heads a long-established Toronto-based investment and property management firm, tasked us with identifying stabilized, well-managed investment properties for acquisition.”
The sale marks the third acquisition by Mr. Lopez and his firm with Marcus & Millichap in 2018. Situated on 5.6 acres, the property is across from Trent University in Oshawa’s high-traffic King & Thornton area.