39,000 SQFT Flex Property in Concord Trades for $9MM

Bay Area, East Bay, Concord, Cortese Real Property, Walnut Creek, John Cumbelich & Associates, Minaret Holdings, Martinez
Image courtesy of John Cumbelich & Associates

By Vladimir Bosanac

Interest in Bay Area real estate continues, and investors are not always coming from outside the region seeking opportunities. In a recent transaction, which closed in December of 2021, two local investors traded a Concord flex property for $9 million. The asset, which is located at 2395 Monument Blvd. in the East Bay city is comprised of two buildings and parking lot.

The seller in the transaction, Cortese Real Property, was represented by Walnut Creek-based John Cumbelich & Associates. The buyer was an entity from Martinez, Calif. associated with Minaret Holdings and Christian Mirner. 

No plans for the property were announced at the time of the sale. According to the sale announcement, the property sits in a desirable location on Monument Blvd. across the street from Costco Wholesale. A retail center featuring Big Lots, US Foods, Dollar Tree and 7-Eleven is a block away, as are Hertz and Enterprise rent-a-car locations. 

The 1987 vintage property is a retail/industrial assets, which according to a web search is presently home to The Decorating Center and Harvest House, an organic food and vitamin provider.

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