Jeffrey Ida

JUST CLOSED - San Francisco Bay Area Net-Leased Land Parcel Trades at $4.5 Million OAKLAND, Calif., Feb. 23, 2017 Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a 26,440-square-foot land parcel at 3875 Telegraph Avenue in Oakland, California, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The 13,052-square-foot me...dical office building on the parcel and all its improvements are owned by the ground lessee, the Surgery Center of Alta Bates and Summit Medical Center. The asset sold above list price for $4.5 million. Jeffrey Ida, associate, John Glass, executive managing director investments, and Vincent Schwab, senior managing director investments, all in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a partnership, and procured the buyer, a personal trust. The sale is the culmination of a process that began years ago, says Ida. The fee simple interest was encumbered by a long-term ground lease with minimal rent increases and the land below the surgery center, a former Regency Gas station, has a history of extensive environmental contamination. Nonetheless, our marketing process produced a double-digit amount of offers and in the end, multiple offers over list price, Ida continues. Ultimately, we procured a buyer that accepted the environmental condition and provided the seller with indemnification and release from liability without conducting a Phase 2 environmental inspection. # # # 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: http://www.jeffreyida.com/

As the economy continues to strengthen, here are six key trends that will likely shape its development in 2017: 1. More fiscal growth 2. GDP growth may quicken 3. Labor market may tighten... 4. Interest rates will remain low 5. The Dollar will stay strong 6. Markets are naturally volatile Article by Jim Glassman, a Managing Director and Head Economist at JPMorgan Chase.

"An accelerated pace of hiring is taking shape in office-using employment sectors. The addition of 23,000 technical services workers and 32,000 financial services jobs in January will drive the absorption of office space and help push down the U.S. vacancy rate to 14.2 percent this year." https://blog.marcusmillichap.com//hiring-bounces-back-in-/

Gordon Biersch Brewing Company Brewery Sold for $10.9 Million By Marcus & Millichap SAN JOSE, Calif., February 10th, 2017 Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, is pleased to announce it has sold the Gordon Biersch Brewing Company brewery, a 129,646-square-foot single-tenant industrial property in San Jose, California. The property was listed for sale at $10.9 million as... a leased real estate investment property, the ancillary brewery business was not included in the sale. The Gordon Biersch Brewing Company property in San Jose is a rare single-tenant property in the city’s bustling Japantown submarket, says Jeffrey Ida, a Marcus & Millichap associate. The asset benefits from its ideal location proximate to numerous apartment buildings, San Jose State University, San Jose International Airport, U.S. Highway 101 and Interstate 880, which see over 200,000 vehicles per day. This unique building is Gordon Biersch Brewing Company’s sole manufacturing, bottling and distribution facility, and it operates 24 hours a day, seven days a week, says Vincent Schwab a Marcus & Millichap senior managing director investments. Developed and engineered by Gordon Biersch co-founder and brewmaster, Dan Gordon, the largely automated facility produces 6,000 cases of beer per day, which amounts to over a million beers per week. Ida, Schwab, and John Glass, a Marcus & Millichap executive managing director investments, all based in San Francisco, represented the seller and procured the buyer. This asset provides an opportunity for an investor to procure a mission critical single-tenant property with annual rent far below current market rate, adds Glass. The property also presents a generational redevelopment opportunity with the potential to redevelop the entire parcel at the end of the lease term. The facility is located between North 8th Street and North 9th Street at 357 E. Taylor St. in San Jose. It is situated on a 3.14 acre parcel just north of downtown San Jose in the Jackson-Taylor neighborhood.

PENDING: 3875 TELEGRAPH AVENUE, OAKLAND $4,400,000 Cap Rate: 4.99% | Lot Size: 26,440 SF | Price per SF: $337.11 | Year Built: 1989 | Rentable SF: $16.82

PENDING: 375 EAST TAYLOR STREET, SAN JOSE $10,900,000 Cap Rate: 3.81% | Parcel Size: 3.81 ACRES | Price per SF: $79.69 | Year Built: 1956 | Rentable SF: 129,646