Marcus & Millichap, Monarch Commercial Advisors Close $5M Net-Lease Sale of Peet's Coffee Property in Alameda, California
Marcus & Millichap and Monarch Commercial Advisors have brokered the $5 million sale of a single-tenant net-leased Peet's Coffee & Tea property in Alameda, California, the firms announced Aug. 10, 2026.
The property, located at 1901 Webster St., is a 3,000-square-foot freestanding building on a 0.4-acre parcel that traded at $1,666.67 per square foot. The buyer is a California-based private corporate trust. The seller is a California-based add-value private client.
Deal Structure and Property Details
Built in 1986, the Alameda property is fully occupied by Peet's Coffee & Tea under a 10-year lease with fixed annual rent increases. The buyer plans to hold the property for long-term cash flow.
The asset features a drive-through configuration, a format that is increasingly difficult to replicate in Alameda's built-out retail environment. Mark Mason, senior managing director investments at Marcus & Millichap's San Francisco office, procured the buyer. Brandon Norton and David Lucas of Monarch Commercial Advisors in Walnut Creek, California represented the seller.
"Properties occupied by established regional brands in mature Bay Area markets continue to attract investor demand because opportunities to develop comparable assets are increasingly limited," Mason said. "Peet's Coffee has deep roots in the East Bay, and the property's drive-through configuration is difficult to replicate in Alameda's built-out retail environment, making it a compelling long-term investment."
Net-Lease Demand in a Supply-Constrained Market
The transaction reflects continued investor appetite for single-tenant net-leased retail assets, particularly those with long-duration income profiles and limited replacement supply. In net-lease structures, investors receive rent directly from an operating tenant and benefit from contractual rent escalations over the lease term — a cash-flow profile that has remained attractive as broader commercial real estate fundamentals have grown more selective.
The Alameda deal illustrates a scarcity premium at work in the Bay Area. New drive-through retail sites in the East Bay submarket are difficult to entitle and construct, supporting higher per-square-foot pricing for existing assets with in-place tenants and established configurations. The 10-year lease term with fixed annual increases provides the buyer a defined income path without the redevelopment risk or entitlement uncertainty associated with ground-up alternatives.
About the Brokerages
Marcus & Millichap is a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services. The firm operates more than 80 offices across the United States and Canada and employs 1,808 investment sales and financing professionals. Marcus & Millichap closed 8,818 transactions in 2025 with a total sales volume of approximately $50.9 billion.
Monarch Commercial Advisors is based in Walnut Creek, California and represented the seller in this transaction through brokers Brandon Norton and David Lucas.