Marcus & Millichap Facilitates Closing and Arranges Financing for $36.5 Million Shopping Center Sale in Orange County

SANTA ANA, Calif., June 7, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of Bristol Place, a 61,454-square-foot shopping center in Santa Ana, California. The property sold for $36.5 million.

“With one of the lowest vacancy rates in California and on track to post a sixth consecutive year of positive rent growth, Orange County remains one of the most desirable markets for retail investors in the nation,” said Ron Duong, senior managing director investments in Marcus & Millichap’s Orange County office. “Bristol Place is located a block from one of the nation’s top-grossing shopping centers, South Coast Plaza, and is across the street from the upcoming 41-acre mixed-use development, Related Bristol, which looks to reshape the landscape of the South Coast Metro region for years to come. These conditions and the property’s enormous growth potential attracted our buyer.” Duong represented the buyer, a private investor. Ronald Balys, senior vice president capital markets with Marcus & Millichap Capital Corporation (MMCC), arranged acquisition financing. Kevin Fryman of Hanley Investment Group represented the seller.

Constructed in 1986 and renovated in 2019, Bristol Place is located on S Bristol Street, one mile from the intersection of Interstate 405 and California State Routes 55 and 73.

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About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.