Marcus & Millichap has arranged the $4 million sale of 4th and Palm, a 3,700-square-foot medical office property in San Diego. The buyer was 4th Avenue Property Owner, LLC, a Brooklyn, NY-based developer.
Marcus & Millichap’s First Vice President of Investments Nick Totah, along with Senior Associate Ross Sanchez had the exclusive listing to market the property on behalf of the seller, Michael Rush, LLC. The buyer was represented by Matt Kennedy of Voit Real Estate.
The building is located in the Bankers Hill neighborhood of San Diego and was long occupied by the seller who operated a dermatology practice. The buyer is acquiring the site for its land value and plans to develop it in the future given its location and favorable zoning.