Livermore Asset With Bank of the West Tenant Sells for $2.9MM

LIVERMORE, CA, September 6, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Bank of the West, a 7,108-square foot net-leased property located in Livermore, California, according to David C. Nelson, Regional Manager of the firm’s East Bay office. The asset sold for $2,900,000.

Ethan H. Pintard, First Vice President Investments, and Jarrod Senechal of Marcus & Millichap’s East Bay office, had the exclusive listing to market the property on behalf of the seller, tenants in common.The buyer, a limited liability company, was also secured and represented by Ethan Pintard and Jarrod Senechal.

Bank of the West is located at 2287 2nd Street in historic downtown Livermore. There is one year remaining on the triple-net lease with no options to extend. Constructed in 1960, the building features multiple drive-in lanes. The 0.41-acre lot also includes ample parking in addition to nearby street parking.

Situated on the corner of 2nd Street and South Livermore Avenue, the property benefits from heavy vehicle traffic. Bank of the West is also a 10-minute walk from Livermore Public Transit Station, which provides access to ACE Train Station.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.

West Coast Commercial Real Estate News