SIMI VALLEY, CA, June 8, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 2045 Royal Avenue, a 24,417-square foot office property located in Simi Valley, CA, according to Adam P. Christofferson, regional manager of the firm’s Ventura office. The asset sold for $6,500,000 ($266/sf).

Gary Cohen, Director National Office and Industrial Specialty Group and James DeBuiser, Associate in Marcus & Millichap’s Ventura office, had the exclusive listing to market the property on behalf of the seller, The Johnston Group, a multi-faceted real estate development and management firm with a large presence in the western US.  The buyer, Royal-SV, LLC, was secured by our colleagues, David Benjamin, Associate and Ben Tashakorian, Senior Managing Director Investments in Marcus & Millichap’s San Diego office. The property was 100% occupied with a variety of medical and medical related tenants at the time of sale.