A six-building commercial complex in Santa Rosa that has been in the same family of real estate developers since it was built 35 years ago has been sold for $23.5 million.
An affiliate of Pine Creek Properties, started by low-key philanthropist Ken Martin, sold the 152,925-square-foot Pine Creek Business Park property at 3350-3360 Coffey Lane to an affiliate of Richmond-based MKD Investments LP in an off-market deal April 24. The sale price is the equivalent of nearly $154 a square foot.
“With the building’s currently leased at below market rents, this is also an attractive value-add opportunity for the buyer,” said Cushman & Wakefield’s Trevor Buck, who represented buyer MKD Pine Creek Business Park LLC and seller CoffeyPCBP LLC…