Press Releases
Marcus & Millichap Brokers $13.7M Sale of Coast Highway Retail Property in Newport Beach, California
August 25, 2026
NEWPORT BEACH, Calif., Aug. 25, 2026 – 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 2515 E. Coast Highway, a 15,100-square-foot multi-tenant retail property in the Corona del Mar neighborhood of Newport Beach. The property sold for $13.7 million, or $907.27 per square-foot.
“We generated more than 10 offers for the property, ultimately resulting in a sale price of $700,000 above asking,” said Ron Duong, senior managing director investments. “Corona del Mar has high barriers to entry, strong demand and some of the highest household incomes in the region. Those fundamentals, combined with the property’s Coast Highway location, generated a competitive process for an asset that had been held by the same family for 80 years.”
Duong, Tyler Leeson and Matt Kipp, investment specialists in Marcus & Millichap's Orange County office, had the exclusive listing to market the property on behalf of the seller, a family partnership that had owned the property for 80 years, and procured the buyer, a private Orange County-based investor.
Built in 1949, the property is situated on 0.35 acres along East Coast Highway in Corona del Mar. The multitenant retail property features approximately 20 on-site parking spaces and a mix of dining, beauty and service-oriented tenants. The property is located along the community’s primary retail corridor, near restaurants, retailers, residential neighborhoods, the Corona del Mar village center and the coastline. The buyer plans to hold the property as a long-term family investment.
“We generated more than 10 offers for the property, ultimately resulting in a sale price of $700,000 above asking,” said Ron Duong, senior managing director investments. “Corona del Mar has high barriers to entry, strong demand and some of the highest household incomes in the region. Those fundamentals, combined with the property’s Coast Highway location, generated a competitive process for an asset that had been held by the same family for 80 years.”
Duong, Tyler Leeson and Matt Kipp, investment specialists in Marcus & Millichap's Orange County office, had the exclusive listing to market the property on behalf of the seller, a family partnership that had owned the property for 80 years, and procured the buyer, a private Orange County-based investor.
Built in 1949, the property is situated on 0.35 acres along East Coast Highway in Corona del Mar. The multitenant retail property features approximately 20 on-site parking spaces and a mix of dining, beauty and service-oriented tenants. The property is located along the community’s primary retail corridor, near restaurants, retailers, residential neighborhoods, the Corona del Mar village center and the coastline. The buyer plans to hold the property as a long-term family investment.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
