Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of the Pasadena Strip Center in Pasadena, CA.
Dustin Alvino and Jeffery Meyers of Marcus & Millichap exclusively represented the seller in this transaction. The asset is located at 488 Allen Ave and sold at a 5.12% cap rate. This 8,690 square foot retail center has eight units and is 100% leased with e-commerce resistant tenants. The daytime population within a 3-mile radius exceeds 185,000 with the average household income over $124,000.
For more information regarding the sale of the Pasadena Strip Center or if you have any other questions relating to net lease investments, please do not hesitate to reach out to The Alvino Group.
Dustin R. Alvino | (702) 215-7120