I would highly recommend the partners in the San Francisco real estate office of Marcus and Millichap for their knowledge and experience in working with commercial property exchanges. A few years ago, my wife and I sold an 11-unit office building in Stockton, California and exchanged the proceeds for a new, triple net Dollar General store in Texas. We worked closely with Marcus & Millichap on both the sale of the office building and the purchase of the Dollar General store, and found the exchange process to be very positive. We would not hesitate to use the San Francisco Marcus and Millichap office again.
Bay Area 1031 exchange into a Dollar General in Texas
We helped a client based in the Bay Area 1031 exchange into a Dollar General in Texas. The client had a multi-tenant office building that was management intensive and in constant need of repairs.
The client and his wife were both in their late 70s and looking to spend more time with family. They also wanted to enjoy a hassle-free lifestyle and were tired of taking calls from tenants. We listed and sold their office property, which received multiple offers and traded very close to the asking price. We also helped them acquire a Dollar General on a new, 15-year lease with 100% no management responsibilities whatsoever.
Calvin Shih is absolutely great to work with. He's conscientious, through and detail oriented. Calvin researched several options for us until we decided, with his knowledgeable input, on the best investment for our situation. He was also available to us every step of the way, advising and helping us understand every aspect of the process. We definitely recommend Calvin to anyone looking for investment opportunities.
Apartment investor 1031 exchange into a Starbucks in Arizona and Dollar General in Alabama.
The client and his wife were close to retirement and wanted spend more time with their daughters and grandchildren. They were tired of dealing with tenant issues and increasing anti-landlord regulations in California. Both the Starbucks and Dollar General were on long-term corporate backed leases in strong markets. Furthermore, we substantially increased their annual cash flow by over 47% while eliminating day-to-day landlord management headaches.