Press Releases
Marcus & Millichap Brokers the Sale of Bank of America, a 6,500-SF Net-Leased Property in the Venice Beach Neighborhood of Los Angeles
April 11, 2025
LOS ANGELES, April 11, 2025 – 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 Bank of America, a 6,500-square-foot net-leased property located in Los Angeles, California.
“We continue to see strong demand for high-quality, passive retail investments, even those that offer fractional ownership interests,” shared Adam Attia, first vice president investments in Marcus & Millichap’s Orange County office. “This transaction underscores our team’s commitment to delivering exceptional value to our clients through strategic deal structuring and highly targeted marketing.” Attia had the exclusive listing to market the property on behalf of a private seller. The buyer, a private investor, was also procured by Attia.
Bank of America is located at 121 Windward Avenue in Los Angeles, California. The asset, regarded as a "trophy" retail property due to its prime location and tenant profile, attracted significant investor interest. The fractional ownership structure provided accredited investors with the opportunity to acquire interest in a stabilized, income-producing asset, while benefiting from passive cash flow and potential appreciation. “The transaction further cements our team’s reputation as a leader in the sale of net-lease retail properties across the country and highlights the continued demand for premium retail investment opportunities underpinned by long-term, credit-tenant leases. With deep market knowledge and a robust investor network, our team consistently delivers results in a competitive and evolving investment landscape,” added Attia.
“We continue to see strong demand for high-quality, passive retail investments, even those that offer fractional ownership interests,” shared Adam Attia, first vice president investments in Marcus & Millichap’s Orange County office. “This transaction underscores our team’s commitment to delivering exceptional value to our clients through strategic deal structuring and highly targeted marketing.” Attia had the exclusive listing to market the property on behalf of a private seller. The buyer, a private investor, was also procured by Attia.
Bank of America is located at 121 Windward Avenue in Los Angeles, California. The asset, regarded as a "trophy" retail property due to its prime location and tenant profile, attracted significant investor interest. The fractional ownership structure provided accredited investors with the opportunity to acquire interest in a stabilized, income-producing asset, while benefiting from passive cash flow and potential appreciation. “The transaction further cements our team’s reputation as a leader in the sale of net-lease retail properties across the country and highlights the continued demand for premium retail investment opportunities underpinned by long-term, credit-tenant leases. With deep market knowledge and a robust investor network, our team consistently delivers results in a competitive and evolving investment landscape,” added Attia.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
