Marcus & Millichap Sells Retail Property Leased To Peet's Coffee In Alameda For $5M

A 3,000-square-foot single-tenant retail property located at 1901 Webster Street in Alameda, CA was sold for $5,000,000. This property is leased to Peet’s Coffee & Tea under a 10-year lease with annual rent increases, reflecting a price per square foot of $1,667.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,000,000
• Address: 1901 Webster Street
• Market: Alameda, CA
• Square Footage: 3,000
• Price Per Square Foot: $1,667
• Buyer's Representative: Mark Mason - Marcus & Millichap
• Seller's Representatives: Brandon Norton & David Lucas - Monarch Commercial Advisors

Mark Mason from Marcus & Millichap procured the buyer, who is a California-based private corporate trust. The seller was represented by Brandon Norton and David Lucas from Monarch Commercial Advisors.