Marcus & Millichap Arranges the Sale of A 30,493-SF Development Site Located in San Diego

SAN DIEGO, April 5, 2024 – 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 a 30,493-square-foot development site located in San Diego, California. The asset sold for $1,350,000.

“This development sale marks a crucial step towards meeting the pressing need for quality housing in Encanto, San Diego,” shared Aaron Bove, senior managing director investments in Marcus & Millichap’s San Diego Del Mar office. Bove had the exclusive listing to market the property on behalf of the seller, Impact Real Estate, LLC. The buyer, Gabriel Mauser, was procured by Simon Oliveri.
The property is located at 6353 Broadway in San Diego, California and has plans and permits to build 11 additional ADUs.

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About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.