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9/28/15
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Lakeville Square, a 12.2k sf retail property in the NoCal city of Petaluma, sold for $4.55 mil ($373/sf). Built in 2008, the property is located at 2620 Lakeville Hwy, east of Hwy 101, roughly 40 miles north of San Francisco.
The acquisition consisted of the free-standing, multi-tenant neighborhood strip center and an additional pad site that can accommodate a 6.5k sf improvement. The property is situated at the signalized intersection of Lakeville Hwy and Casa Grande Rd, directly adjacent to the 147-unit Azure at Lakeville Square apartments and the 240-unit Park Central Apartment Homes.
Vincent Schwab and Ryan Morita of Marcus & Millichap represented the seller, a developer.
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