Saturday, May 24, 2014

Marcus & Millichap Sells Los Angeles County Net-Leased Asset for $17.7 Million


Sheila Alimadadian
GLENDALE, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 33,699-square foot Jo-Ann Fabric and Craft store in Glendale, Calif. The $17,700,000 sales price equates to $525 per square foot.

            Sheila Alimadadian, associate director of Marcus & Millichap’s National Retail Group in Newport Beach, represented the buyer, Aria Investments LLC.

            “Quality net-leased listings are in high demand and will remain so throughout the year,” says Alimadadian. “This offering attracted a great deal of attention from a wide range of buyers.”

            The property is located on a 103,580-square-foot lot at 1000 South Central Ave. in Glendale, Calif. It was built in 1966 and renovated in 2013.

For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager
(925) 953-1716



No comments:

Post a Comment