Description
Sale Price: $6,400,000
Building GLA: 12,662 SF
Land Area: 19,662 SF
Commercial Units: 5
Residential Units: 5
The property was sold to a locally based family office in a 1031 exchange, Maher Commercial Realty tenaciously represented the Seller, allowing no price concessions once escrow was opened, selling the property at 98% of the list price.
Prior to the sale, Maher Commercial Realty stabilized the property by filling two retail vacancies with established internet resistant tenants. This allowed the property to appeal to a wide range of Buyers, who could add value to the multifamily portion of the property with piece of mind that the retail was filled in a difficult COVID leasing environment.
