Marcus & Millichap Announces the Sale of 2650 Camino Del Rio N, a 71,450-Square Foot Office Building in San Diego, California

SAN DIEGO, July 1, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 2650 Camino Del Rio N, a 71,450-square foot office property located in San Diego, California. The asset sold for $14,100,000.

The buyer, Katz Real Estate, was secured and represented by Nicholas Totah, First Vice President of Investments for The Totah Group in Marcus & Millichap's San Diego Downtown office. This acquisition was part of a 1031 exchange for the buyer who traded out of a retail portfolio in Hillcrest.

The subject property is located at 2650 Camino Del Rio N in San Diego, California. Built in 1982, this three-story office includes ample parking and freeway visibility on I-8 and I-805 in the central San Diego submarket of Mission Valley. The property is occupied by a diverse mix of professional office and medical tenants and was 80.7% leased at the time of sale. The property will undergo a series of capital improvements to the exterior, common areas, and spec suites to fully lease and stabilize the asset.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.