Marcus & Millichap, a leading commercial real estate firm, recently closed the sale of Highlands/80 Commerce Center in North Highlands near Sacramento. The 24,964-square-foot office property was sold for $1,585,000.
According to Mark Hefner, Senior Vice President of Office and Industrial Investments at Marcus & Millichap’s Sacramento office: “We are honored to have assisted the Child Abuse Prevention Center (CAP-C) in achieving their goal of monetizing their headquarters building.” He further added that they were able to negotiate a cost-effective leaseback agreement with the buyer on behalf of the seller.
Hefner and Ross Relles III from Marcus & Millichap’s Sacramento office marketed this property on behalf of a private investor. Relles stated that both transactions aligned with CAP-C’s real estate objectives – selling an under-utilized asset at a competitive market price. With five offers received for this property, they were able to secure favorable terms and pricing for the seller while also helping them reduce long-term occupancy costs for their office operations.
This successful sale not only allowed CAP-C to reinvest proceeds into its core mission but also highlights Marcus & Millichap’s expertise in handling complex commercial real estate transactions.
