A small retail property in Bay Park has been bought for $3.9 million, in accordance with native actual property officers.
Bay Ho Procuring Heart, positioned at 4011-4033 Avati Drive, contains seven tenants and was greater than 70% leased on the time the sale closed.
Nicholas Totah, first vp of investments, and Ross Sanchez, funding affiliate for the Totah Group in Marcus & Millichap’s San Diego Downtown workplace, represented the vendor, a non-public investor. They didn’t determine the client.
This 14,591 square-foot heart, in-built 1970, sits on 1.3 acres. Tenants embody a liquor retailer, dental workplace, salon and dry cleaners.
Marcus & Millichap (NYSE: MMI), a business actual property brokerage agency, makes a speciality of funding gross sales, financing, analysis and advisory providers.