Navigating Uncertainty to Deliver Value: The $7.9M Sale That Paved the Way for Magnolia Village in Larkspur

The Shops at Magnolia in Larkspur, Marin County, was held by a Southern California family since 2008. Our client’s goal was clear: sell for the highest price possible, regardless of escrow timing.

When we launched the listing, we could not predict what was ahead. Two months later, COVID-19 halted both retail investment and new development projects across the Bay Area. Rather than wait, we doubled down by targeting experienced, well-capitalized developers who could see the long-term value of this premier location.

In December 2020, we secured a buyer who met the seller’s price and terms. Over the following years, we navigated a series of unprecedented challenges to the value of the site: difficulty with city planning approvals, multiple bank failures, and rising interest rates. Through it all, we held firm on the original purchase price in escrow, a rare seller outcome in such a volatile market.

Now, the site will be transformed into Magnolia Village, a vibrant community of 20 Townhouses, anchored by a new retail space that will rehouse the renowned Rustic Bakery. This marks not only the successful conclusion of a patient and complex transaction, but also the beginning of a landmark redevelopment that will reshape Larkspur’s retail and residential landscape.