Marcus & Millichap arranged the sale of 2727 Via Cascadita, a 24,933-square-foot retail center in San Clemente. The property sold for $8.9 million, or $356.95 per square foot, at a 5.39% cap rate. 

Tony Azzi and Rabbie Banafsheha of The Azzi Group of Marcus & Millichap represented the seller, Casual Cascade De, LLC. The buyer, Space Investment Partners, LLC, was procured by Azzi, Banafsheha and Arteen Zahiri, also of The Azzi Group.

The team generated more than 20 competitive offers, ultimately securing an all-cash buyer and closing at 99% of the list price in 21 days. The transaction required navigating a complex CMBS loan defeasance and layered cash management structure.

“This was a very complicated transaction due to having to navigate the Coastal Commission, working with the city and managing multiple moving parts simultaneously,” said Banafsheha. “We’re glad we got the deal done and were able to deliver a great outcome for all parties involved.” 

Be there on June 18 when John Chang, SVP, chief intelligence & analytics officer at Marcus & Millichap provides an economic update during the 9th Annual Connect Los Angeles 2025, June 18 at the Intercontinental Los Angeles Downtown. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else.