Marcus & Millichap a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale-leaseback of 1700 West 4th Street, a 300,000-square-foot industrial warehouse in Antioch, California. The $17.75 million sales price makes the transaction the largest industrial warehouse sale, by dollar volume, in Antioch this year.
“The sale was structured as a sale-leaseback to allow the seller to pull equity from the property, reallocate capital to infrastructure and supply lines and ensure that operations will be maintained for years to come,” says Jeffrey Ida, the office and industrial property investment specialist in Marcus & Millichap’s San Francisco office who represented the buyer. “Sale-leaseback transactions often make sense from a capital-reinvestment, tax, balance sheet and cost-of-capital perspective. One of the benefits investors experience when working with Marcus & Millichap is the high level of expertise we offer to investors selling or acquiring industrial properties.”
About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 over 8,700 transactions in 2015 with a value of approximately $37.8 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