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Marcus & Millichap Arranges The Sale Of A 10,057-Square Foot Retail Property

May 04, 2022

SAN BERNARDINO, CA, May 4, 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 Golden Sands Plaza, a 10,057-Square Foot Retail Property, Built In 1962, With 90.36% Occupancy Is Located In San Bernardino, CA, According To Josh Caruana, Regional Manager Of The Firm’s Indianapolis Office. The Asset Sold For $1,100,000, Reflecting A “Value Add” Purchase Price.

Julia Evinger, an investment specialist in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, with whom she transacted properties across the US from New York to Michigan and California. The seller is a limited liability company from Northern California. The buyer, purchased the property as an up leg for their 1031 exchange and is a limited liability company, also from Northern California. The buyer was secured by Julia Evinger. Adam Christofferson, Los Angeles Broker of Record, assisted in closing this transaction. “The strip center features many long term, service oriented tenants with below market rents; is located in an Opportunity Zone, and is shadow anchored by the Home Depot in a commercial corridor. The purchase price was below replacement cost. In addition, the center benefits from a signalized intersection in a high traffic corridor with ease of access to Interstate 215 and Route 259,” said Evinger.

Golden Sands Plaza is located at 1090 W Highland Ave in San Bernardino, CA.

 

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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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