Marcus & Millichap Arranges Sale of 7,028 SF of Land in Berkeley for $900,000

image009 3BERKELEY, CA, February 25, 2016 – 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 900 & 917 Camelia Street, a 7,028-square feet plot of land located in Berkeley, California, according to Chris Economou, Regional Manager of the firm’s Oakland office. The asset sold for $900,000, or $128.57 per square foot.

Matt Reagan, an investment specialist in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller. The buyer was also secured and represented by Matt Reagan.

The subject property consists of two mixed-use light industrial development lots, totaling 14,000 buildable square feet. The interior lot, 917 Camelia Street, has an existing structure and has been approved for three live/work units, totaling 4,200 gross square feet. The corner lot has no structures or plans in place. Both lots measure 40 feet by 90 feet. Located in the Gilman district near the new Whole Foods Market, 900 & 917 Camelia Street provide quick access to Interstates 80 and 580.

About Marcus & Millichap (NYSE: MMI)
With over 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.

West Coast Commercial Real Estate News