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Marcus & Millichap Arranges the Sale of a 2 AC 6-Building Industrial Property

January 13, 2022

VENTURA, CA, January 13, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1579-1585 Los Angeles Ave, a 21,200 SF, 2 AC parcel of industrial property located in Ventura, CA, according to James Brian Markel, regional manager of the firm’s Ventura office. The asset sold for $4,000,000 ($189/SF RBA & $46/SF Land).

Bentley McKean, Gary Cohen and James DeBuiser, investment specialists in Marcus & Millichap’s Ventura office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by Bentley McKean, Gary Cohen and James DeBuiser,

1579 Los Angeles Ave is located in the County of Ventura. The 2-parcel property is comprised of 6 buildings totaling 21,200 SF. New buyers will occupy half of the property while earning income from the additional tenants. Property was sold at 98% of the list price.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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