Theater, retail complex sold in Northern California

Property acquired via like-kind exchange

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Marcus & Millichap arranged the sale of the landmark Berkeley Center shopping center in Berkeley, Calif. The retail, theater and office complex sold for $17.2 million. The Berkeley Center encompasses one city block in downtown Berkeley at 2200 Shattuck Ave. and 2070 Allston Way. The 92,531-square foot center was constructed in 1910 and is known as the redevelopment that began the "renaissance" of downtown Berkeley. Largely consisting of retail space, the center boasts a 10-screen theater complex, a Wolfgang Puck Tacone Restaurant, Starbuck's and Cold Stone Creamery, and a number of other unique retailers and eateries. Occupancy was 95 percent at the time of sale. Northern California-based Mackenzie, Patterson, Fuller Inc. sold the property to a Berkeley-based family trust, which acquired the asset in a 1031-exchange transaction. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to op...