Broadway Webster Has Strong Pulse

Marcus & Millichap Real Estate Investment Brokerage Co., the nation’s largest real estate investment brokerage firm, announced the sale of the Broadway Webster Medical Plaza in Oakland, CA, the largest privately-held medical building in the East Bay. Vincent Schwab, vice president/investments in the firm’s Palo Alto office, exclusively represented the seller, Broadway Webster Medical Plaza Ltd. LP, the property’s original development group. Despite limited activity in the office investment market since the current recession began, Schwab was able to generate a competitive market resulting in 12 offers for the asset and a sale price of $17.8 million.