Marcus & Millichap Arranges Sale of 2,750-Square Foot Retail Building in Oakland, CA., for $1.25 Million

OAKLAND, CA, October 20, 2015 – 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 3853 Piedmont Avenue, a 2,750-square foot retail property located in Oakland, California, according to Chris Economou, Regional Manager of the firm’s Oakland office. The asset sold for $1,250,000.

The buyer, a private investor, was secured and represented by Eli Davidson, Senior Associate in Marcus & Millichap’s San Francisco office, and Matt Reagan, investment specialist in the Oakland office.

Formerly the site of Oakland’s iconic BayWolf Restaurant, 3853 Piedmont Avenue was delivered to the buyer as a vacant restaurant with a gross leasable area of 2,750 square feet. The turn-of-the-century building is situated on a 5,774-square foot lot with 68 feet of frontage on Piedmont Avenue. The property benefits from all of the amenities of the Piedmont Avenue district, including shopping and restaurants, and is located near the recently renovated MacArthur Kaiser complex. Interstate 580 and Highway 24 are also minutes away.

About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 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 7,600 transactions in 2014 with a value of approximately $33.1 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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