Press Releases
Marcus & Millichap Arranges the Sale of a 2,870-SF Multi-Tenant Retail Property in El Cajon, California
August 29, 2024
EL CAJON, Calif., August 29, 2024 – 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 a multi-tenant retail property consisting of 2,870-square-feet, located in El Cajon, California. The asset sold for $1,500,000.
“With the steady growth in consumer spending and the resilience of brick-and-mortar retail, demand for multi-tenant retail investment properties continues to surge as investors seek stable, long-term returns in today's market.,” shared Ross Sanchez, senior associate for The Totah Group of Marcus & Millichap’s San Diego Downtown office. “The property was fully leased to two tenants: Final Touch Nails, Hair & Spa, and Subway, which has operated at this location since 1985 under the ownership of one of the nation's largest Subway franchisees. Its prime location along the North 2nd Street retail corridor made the property highly attractive, allowing our team to secure a buyer at 100% of the list price.” Sanchez and Totah, senior vice president in the firm’s San Diego Downtown office, had the exclusive listing to market the property on behalf of the seller, Two Squared, LLC.
“With the steady growth in consumer spending and the resilience of brick-and-mortar retail, demand for multi-tenant retail investment properties continues to surge as investors seek stable, long-term returns in today's market.,” shared Ross Sanchez, senior associate for The Totah Group of Marcus & Millichap’s San Diego Downtown office. “The property was fully leased to two tenants: Final Touch Nails, Hair & Spa, and Subway, which has operated at this location since 1985 under the ownership of one of the nation's largest Subway franchisees. Its prime location along the North 2nd Street retail corridor made the property highly attractive, allowing our team to secure a buyer at 100% of the list price.” Sanchez and Totah, senior vice president in the firm’s San Diego Downtown office, had the exclusive listing to market the property on behalf of the seller, Two Squared, LLC.
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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.
