Marcus & Millichap Secures Exclusive Listing for $18.2M Note on Fremont, CA Building

FREMONT, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has obtained the exclusive listing to sell an $18.2 million Note secured by a first trust deed for a 177,000-square foot retail/warehouse building in Fremont.

The scheduled year one yield on the Note is 7.38 percent with a payoff of $18,215,301 as of November 7, 2009.

The Note has an origination date of November 7, 2007, and a maturity date of November 15, 2017. The current interest rate is 6 percent.

The rate adjustments begin with a floor of 6 percent with an adjustment every three months based on the three-month LIBOR. Current payments are $112,000 per month and there is a reserve account.

The offering price is $18,450,000 and terms are cash or the seller will finance the Note to a qualified buyer with a minimum of 20 percent cash down payment. The seller will then carry 80 percent of the purchase price, secured by the Note for three years at a rate of Prime plus 2.5 percent with a floor of 5.5 percent with a 30-year amortization.

The building was constructed in 1996 and is located in a major retail corridor close to Interstate 880. There is frontage on three streets with high traffic counts in the immediate area. The ceilings allow for a clearance height of 33 feet and the property offers parking for 4.1 vehicles per 1,000 square feet. The entire parcel is 11.31 acres.

Joshua Cohen, a vice president investments in Marcus & Millichap’s Long Beach office, along with Will Stuart, of the Palo Alto office, are the investment professionals handling this sale.

“This is a high-profile building and location,” says Cohen. “An investor is presented with a rare opportunity to acquire a current loan secured by prime commercial property in the San Francisco Bay Area.”

Press Contact: Stacey CorsoCommunications Department(925) 953-1716

Marcus & Millichap's Long Beach, CA Office Assists Camp Ronald McDonald for Good Times

LONG BEACH, CA, July 13, 2009– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced that for the second consecutive year, the Long Beach office will raise money to send children to Camp Ronald McDonald for Good Times, according to John Rodiles, regional manager of the office.

The camp provides Los Angeles pediatric cancer patients and their siblings with free medically supervised residential camp sessions in the San Jacinto Mountains of Southern California.

“Last year we raised more than $4,000,” says Josh Cohen, (top right photo) vice president investments and a director of the firm’s National Multi Housing Group in Long Beach. Cohen encourages his co-workers to donate to the camp and matches all of their gifts.

Founded in 1982, Camp Ronald McDonald for Good Times provides year-round supportive programs to families and children impacted by cancer. The camp is offered to any child who has had cancer or a similar condition, or who has a sibling with one of these diseases, at any stage of illness or treatment, at no cost to their families.

Originally called “Camp Good Times,” the camp became “Camp Ronald McDonald for Good Times” in 1984 when McDonald's Operators’ Association of Southern California announced their support for the camp.

Cohen has been with Marcus & Millichap since 2002. He specializes in brokering the sale of multi-family investment properties in Southern California.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716