Mulne Family Trust Acquires Retail Property In Ventura For $3.25M

The property involved in this transaction is a retail asset located at 3553 Telegraph Rd in Ventura. The property spans 2,418 square feet. It was sold for a price of $3,250,000, resulting in a price per square foot of $1,344.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,250,000
• Address: 3553 Telegraph Rd, Ventura
• Market: Ventura

Mulne Family Trust purchased the property from Storch Family Trust. The buyer was represented by Oron Maher from Maher Commercial Realty, while Chris Itule from Itule Real Estate Group, Inc. represented the seller. This sale was an upleg to a 1031 exchange for the buyer, who was an apartment building owner seeking to eliminate restrictions, increase cash-on-cash return, and reduce management responsibilities. During escrow, Maher Commercial Realty worked with the tenant to identify extension opportunities, providing immediate value to their client.

If you are interested in quick-service restaurant or other net leased retail opportunities, please reach out to Maher Commercial Realty for more information.