San Rafael, CA (May 15, 2017) – Meridian Commercial President Matt Brown announced today that his firm has sold a 20,000-square-foot commercial office building in San Rafael that is currently 100 percent occupied by Creative Energy and Mary’s Futons.
The property is located at 4100 Redwood Highway in San Rafael on the east side of Highway 101 and just opposite of Freitas Parkway.
Nick Egide and Samuel Ko from Meridian represented the sellers in the transaction – two local family trusts (Quinn HP and CM Trust).
The buyers, GB & T Discovery Village LP, executed a 1031 exchange by selling some mixed-use investments in San Francisco to buy the Marin investment property. The initial (one-year) yield on the property, or going in capitalization rate, is 5.4 percent, according to Egide.
About Meridian Commercial
Meridian Commercial is a locally owned real estate services firm dedicated to strengthening the economy through encouraging and advocating transactions that work for all parties. Located in San Rafael, California, Meridian Commercial real estate advisory serves clients in the leasing and sales of light industrial, office and retail properties in Marin and Sonoma Counties.