{"id":1004094843,"date":"2014-04-16T09:23:25","date_gmt":"2014-04-16T17:23:25","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=255439"},"modified":"2014-04-16T09:23:25","modified_gmt":"2014-04-16T17:23:25","slug":"15-million-home-depot-store-sale-arranged-by-marcus-millichap","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/15-million-home-depot-store-sale-arranged-by-marcus-millichap\/","title":{"rendered":"$15 Million Home Depot Store Sale Arranged by Marcus &amp; Millichap"},"content":{"rendered":"<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\">By Alex Girda, Associate Editor<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-255456\" title=\"home depot logo\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/home-depot-logo.jpg\" alt=\"\" width=\"300\" height=\"300\" \/><\/p>\n<p class=\"MsoNormal\">A San Jose Home Depot Store recently traded hands in a deal worth $15.575 million. The transaction was arranged on behalf of the seller, an institutional investor, by real estate investment services firm Marcus &amp; Millichap. The deal was handled by Mike James, an associate vice president Investments with the company\u2019s Encino, Calif. office.<\/p>\n<p class=\"MsoNormal\">The San Jose Home Depot is a retail facility totaling 122,265 square feet of space. Located an 11.4-acre site, the property is situated just off California State Route 87 at 635 West Capitol Expressway in Silicon Valley\u2019s main city. Silicon Valley\u2019s current economic boom means that the property is located in a thriving economic area with an ultra-high net worth metropolitan statistical area that has an average annual household income exceeding $123,000.<\/p>\n<p class=\"MsoNormal\">The property called for a $127 per square foot purchase fee and a 3.77 percent capitalization rate. According to Mike James, the store is a \u201ctrophy triple-net-leased asset.&#8221;<\/p>\n<p class=\"MsoNormal\">&#8220;[The property] has more than 20 years remaining on the initial lease term and provides significant inflation protection with 10 percent rental increases every five years,&#8221; he says.<\/p>\n<p class=\"MsoNormal\">A press statement announcing the sale noted that 22 different offers were presented to the seller, most of which came through Marcus &amp; Millichap agents on behalf of multifamily investors in 1031 exchanges. The transaction fee is directly linked to the company\u2019s ability to find buyers willing to exchange for retail properties in their search of less management-heavy assets.<\/p>\n<p class=\"MsoNormal\">Home Depot currently is the world\u2019s largest home improvement specialty retailer. The company saw 2013 retail sales of $78.8 billion, and an earnings figure of $5.4 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A San Jose Home Depot Store recently traded hands in a deal worth $15.575 million. The transaction was arranged on behalf of the seller, an institutional investor, by real estate investment services firm Marcus &amp; Millichap. The deal was handled by Mike James, an associate vice president Investments with the company&rsquo;s Encino, Calif. office.<\/p>\n","protected":false},"author":137,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1609],"tags":[1815],"class_list":["post-1004094843","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-francisco","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>$15 Million Home Depot Store Sale Arranged by Marcus &amp; Millichap - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/15-million-home-depot-store-sale-arranged-by-marcus-millichap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$15 Million Home Depot Store Sale Arranged by Marcus &amp; Millichap\" \/>\n<meta property=\"og:description\" content=\"A San Jose Home Depot Store recently traded hands in a deal worth $15.575 million. 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