Cushman & Wakefield Advises Rare Sale of Carmel Rancho II Shopping Center on Monterey Peninsula for $13.55 Million

CARMEL, Calif., August 19, 2019 – Cushman & Wakefield is pleased to announce the sale of the Carmel Rancho II Shopping Center (“CRSC II”), a neighborhood shopping center in Carmel (Monterey County), California, which sold for $13.55 million. The seller was Beeman Family Trust, which had owned the property since it was originally built in 1959. Michael Schoeder and Josh Jones with Cushman & Wakefield Monterey together with Dan Wald of the firm’s Retail Investment Advisors Group in San Francisco represented the seller in the transaction. The buyer was a Private Capital buyer out of San Francisco, which acquired the property as the up-leg in a 1031 Exchange. The buyer sold an apartment building in San Francisco as the down-leg of the exchange and was represented by Paul Radcliffe of Alain Pinel. Located at 26200 and 26536-26549 Carmel Rancho Blvd., CRSC II comprises 44,676 square feet of rentable retail [...]

By |2019-08-19T16:32:07-04:00August 19th, 2019|In the News|0 Comments