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Berkeley Caliber Collision Sells with Long-Term Upside
Marcus & Millichap closed the sale of a 17,104-square-foot, triple-net-leased Caliber Collision property in Berkeley. The property sold for $5 million, or $292.33 per square foot.
“This transaction provided the seller with a strong exit while offering the buyer a stable, income-producing asset with long-term upside in a challenging market,” said Teodor Vacev, director investments. “The property’s below-market rent, long-term corporate-guaranteed lease and infill Bay Area location provide opportunities for both steady cash flow and future value appreciation.”
Palo Alto-based Vacev marketed the property on behalf of the seller, a Bay Area-based private investor. Kirk Trammell and Josh Johnson, investment specialists also in Marcus & Millichap’s Palo Alto office, represented the buyer.
Located at 3207 Shattuck Ave., the property is situated on a 0.40-acre parcel and is fully leased to Caliber Collision under a corporate-guaranteed, triple-net lease with approximately 10 years remaining. The lease includes 10% rental increases every five years
