Mar Vista Partners’ Lance Washington Brokers $3.6M Industrial Sale at 1920 Mercantile Lane in Coalinga

The property asset involved in the transaction is an industrial asset located at 1920 Mercantile Lane in Coalinga. The sale price reached $3,600,000, with a total square footage of 35,000, which translates to a price per square foot of $102.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $3,600,000
• Seller: Tatev Oganyan
• Broker: Lance Washington - Mar Vista Partners
• Market: Coalinga
• SF: 35,000
• PPSF: $102
• Note: Planet 13’s 800 bloom light operational cultivation in 35,000/sf.
• Funding: Private credit financing of $6M sourced by Mar Vista Partners

The key individuals in this transaction include the seller, Tatev Oganyan, and the broker representing the transaction, Lance Washington from Mar Vista Partners. This deal highlights the sourcing of an off-market property facilitated by the brokerage, which also played a significant role in arranging the financing necessary for the purchase.