PINOLE, Calif., Oct. 6, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced it has been selected to exclusively market for sale a 11,071-square-foot portion of the Pinole Gateway Shopping Center in Pinole, California. The price is $10.35 million.
“Shadow-anchored by Sprouts Farmers Market, the property’s prominent location and strong tenant mix place it in an excellent position to achieve long-term success,” says Kirk Trammell, senior managing director investments in Marcus & Millichap’s Palo Alto office. “The lack of competitive natural and organic grocers in the immediate area give Sprouts a stronger and deeper draw than is typical.”
Trammell, Vincent Schwab, senior managing director investments, David Cutler and Joshua Johnson, senior associates, are representing the seller.
Located at 1400 Pinole Valley Road in Pinole, the property is easily visible to more than 180,000 vehicles that pass by daily on Interstate 80.
Currently configured into five tenant spaces, the offering is 100 percent leased to The Habit Burger Grill, Orangetheory Fitness, Jovance Salon and Barbering, Tropical Smoothie Cafe, and Cookie Dough Parlor.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing 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 nearly 9,000 transactions in 2016 with a value of approximately $42.3 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