{"id":1004151731,"date":"2016-09-07T04:25:34","date_gmt":"2016-09-07T12:25:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004151731"},"modified":"2021-05-14T21:19:47","modified_gmt":"2021-05-15T05:19:47","slug":"marcus-millichap-sells-silicon-valley-retail-strip","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-sells-silicon-valley-retail-strip\/","title":{"rendered":"Marcus &amp; Millichap Sells Silicon Valley Retail Strip"},"content":{"rendered":"<div id=\"attachment_1004151732\" style=\"width: 280px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004151732\" data-attachment-id=\"1004151732\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-sells-silicon-valley-retail-strip\/capture-33\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png\" data-orig-size=\"1846,855\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"633 Laurel Street, San Francisco\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;633 Laurel Street, San Francisco&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004151732\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png\" alt=\"633 Laurel St., San Francisco\" width=\"270\" height=\"125\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png 1846w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png?resize=300,139 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png?resize=768,356 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png?resize=1024,474 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture1.png?resize=1536,711 1536w\" sizes=\"auto, (max-width: 270px) 100vw, 270px\" \/><\/a><p id=\"caption-attachment-1004151732\" class=\"wp-caption-text\">633 Laurel St., San Francisco<\/p><\/div>\n<p><b>San Francisco<\/b>\u2014<a href=\"https:\/\/www.marcusmillichap.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Marcus &amp; Millichap<\/a> has announced the sale of a three-property retail strip on the San Francisco Peninsula in San Carlos, Calif. The $13.5 million worth acquisition was financed through an approximately $6.9 million loan arranged by <a href=\"https:\/\/www.markonecapital.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Mark One Capital<\/a>. The buyer was represented by Fabio Sangiorgi, associate vice president investments with Marcus &amp; Millichap. David Campbell, vice president capital markets with Mark One Capital, arranged the fixed-rate, interest-only financing.<\/p>\n<p>\u201cThe buyer is a 1031-exchange investor we guided through the transition from an East Bay shopping center asset into an income property with redevelopment potential in Silicon Valley,\u201d Sangiorgi said in prepared remarks.<\/p>\n<p>The properties are located at 633 Laurel St., 727 Laurel St. and 1199 Laurel St. in San Carlos, in proximity of the upcoming <a href=\"https:\/\/wheelerplaza.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Wheeler Plaza Development<\/a>, a transit-oriented, mixed-use project with 109 condominiums and 10,000 square feet of commercial space, which will be completed in early 2019.<\/p>\n<p><i>Image via Google Maps<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The three-property retail strip had a price tag of $13.5 million or $974 per square foot.<\/p>\n","protected":false},"author":1269,"featured_media":1004151732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21749,1609,15],"tags":[],"class_list":["post-1004151731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-retail","category-san-francisco","category-west"],"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>Marcus &amp; 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