Berkeley, CA, – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 2000 San Pablo Avenue, a 9,325-square foot retail property located in Berkeley, California, according to Jeffrey M. Mishkin, Regional Manager of the firm’s Oakland office. The asset sold for $4,722,000.
The buyer, a private investor, was secured and represented by Kevin Turner, Senior Vice President Investments in Marcus & Millichap’s Oakland office.
The subject property is located on a signalized corner right off of the University Avenue exit of Interstate 80. Constructed in 1969 and renovated in 2013, 2000 San Pablo Avenue was anchored by 7-Eleven and T-Mobile at the time of sale. The 7-Eleven consists of 4,700 square feet, the T-Mobile consists of 1,800 square feet and there is also a master lease for 2,825 square feet. The building is situated on a 14,500-square foot lot which also contains parking, a rarity in Berkeley.
About Marcus & Millichap
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