Rare San Rafael Redevelopment Property Sold to Local Investor

SAN RAFAEL, Calif. – August 28, 2018 – Marin Square, a strategically located mixed-use retail/commercial property in San Rafael (Marin County), California, has sold to locally-based Chelsea Pacific Group. Marin Square was first developed in 1984 as a neighborhood shopping center and was later expanded to include an office and multi-tenant commercial component. The seller was Sutter Health. Cushman & Wakefield’s Dan Wald and Don LeBuhn (The Wald | LeBuhn Team), both Executive Managing Directors with the firm’s Retail Investment Advisors Group, in partnership with Trevor Buck, Director in the firm’s North Bay office, represented the seller in the disposition. The buyer, which is based in nearby Tiburon, represented itself. According to Mr. Wald, “Sutter Health significantly enhanced the property’s value prior to sale by allowing below-market leases to expire and limiting the term of the property’s few remaining tenants.  In this way, the property could be offered as a blank canvas [...]