Marcus & Millichap Arranges $13.5M Sale of Three-Property Retail Strip in San Carlos

by Nellie Day

SAN CARLOS, CALIF. — Marcus & Millichap has arranged the sale of a three-property retail strip center located at 633, 727 and 1199 Laurel St. in San Carlos. A 1031 exchange investor acquired the approximately 13,860-square-foot property for $13.5 million, or $974 per square foot.

Mark One Capital arranged $6.85 million in financing for the acquisition of the property.

Fabio Sangiorgi of Marcus & Millichap represented the buyer, while David Campbell of Mark One Capital arranged the fixed-rate, interest-only financing for the undisclosed buyer.

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