Marcus & Millichap Arranges the Sale of a 3,872-Square Foot Retail Property

Marcus & Millichap, Los Gatos, Summit Bicycles, Palo Alto, Bay Area, commercial real estate

Marcus & Millichap, Los Gatos, Summit Bicycles, Palo Alto, Bay Area, commercial real estateLOS GATOS, CA, April 22, 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 Summit Bicycles, a 3,872-square foot single tenant retail property located in affluent Los Gatos, CA, according to Steven J. Seligman, regional manager of the firm’s Palo Alto office. The asset sold for $2,500,000.

J.J. Taughinbaugh and Yuri Sergunin, investment specialists in Marcus & Millichap’s Palo Alto office, represented the buyer, an individual/personal trust.

Summit Bicycles, located at 111 East Main Street in Los Gatos, CA, is a locally owned bicycle shop with multiple stores in the Bay Area.

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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