Marcus & Millichap Arranges the Sale of a 9,175-Square Foot Office Building

Marcus & Millichap, Tracy, commercial real estate news, San Francisco

TRACY, CA, November 18, 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 Tracy Park Plaza, a 9,175-square foot office property located in Tracy, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $975,000.

unnamedBryan Webb, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Bryan Webb.

The subject property is a 9,175-square foot two-story multi-tenant office building located in North Tracy Boulevard, Tracy, CA. The property is situated on a 30,500-square foot parcel and is of wood frame construction on a concrete foundation. There are six-suites, which are currently 100% occupied. The buildings have recently gone through significant renovations including new paint on the exterior and interior of the building as well as exterior landscaping. The building has been well-maintained, and offers an investor a stabilized investment with long-term upside as rents continue to grow. The property is located across the street from several national credit tenants, and is a close proximity to the major freeways. The property was constructed in 1980.

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

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