PETALUMA, CA – 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 Lakeville Square, a 12,155-square foot retail property located in Petaluma, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $4,550,000.
Vincent Schwab and Ryan Morita, investment specialists in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a developer.
Lakeville Square is located at 2620 Lakeville Highway in Petaluma, CA. Lakeville Square, a 12,155-square foot freestanding multi-tenant neighborhood strip center and an additional pad site that can accommodate a 6,500-square foot improvement located in Petaluma, California. The property is situated at the signalized intersection of Lakeville Highway and Casa Grande Road directly adjacent to the 147-unit Azure at Lakeville Square apartments and the 240-unit Park Central Apartment Homes. The property was constructed in 2008.
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