LANCASTER, Calif., July 29, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Farmer Boy’s, a 3,200 square-foot net-leased property located in Lancaster, Calif., according to Steven J. Seligman, regional manager of the firm’s Palo Alto office. The asset sold for $1,620,000.
Steve Sauter, an investment specialist in Marcus & Millichap’s Palo Alto office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by Steve Sauter and Ted Kokernak, investment specialists in Marcus & Millichap’s Palo Alto office.
Farmer Boy’s is located at 43408 10th Street West in Lancaster, California. With 17 years remaining on a corporate ground lease, it is situated as a pad site within the Lancaster Town Center.
About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment 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 over 6,600 transactions in 2013 with a value of approximately $24 billion. The company 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. To learn more, please visit: www.MarcusMillichap.com