marcus millichap Archives

Lowe’s ground lease trades hands for $22.7 million

by in AZRE Magazine

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 119,336-square-foot, triple-net Lowe’s ground lease in Tempe, Arizona. The sales price is $22.7 million.             “Highlighting the strength of the asset’s positioning within two of the area’s largest urban centers, central… Read More →

Ryan Sarbinoff takes the helm at Marcus & Millichap

by in AZRE Magazine | Newsmakers

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced Ryan Sarbinoff has accepted the position of regional manager in the firm’s Phoenix office. Previously, Sarbinoff was regional manager for Marcus & Millichap in Cincinnati.             “Ryan is an effective leader with a… Read More →

IPA brokers $55.2M sale of Indigo Creek

by in AZRE Magazine

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of Indigo Creek, a 408-unit multifamily community in Glendale, Arizona. The $55.2 million sales price represents more than $135,000 per unit.  “Indigo Creek is a vibrant, luxury multifamily asset that provides new… Read More →

Apartments near Metrocenter sell for $14.35M

Apartments near Metrocenter
by in AZRE Magazine | Multi-Family

A 224-unit Phoenix apartment community near Metrocenter Mall was sold by Pacific Real Estate Partners Inc. to Dalan Management for $14.35 million, according to Marcus & Millichap, which worked on the deal. The apartment community, Sterling on 28th, is situated on 8.09 acres, includes one, and two-bedroom/two-bath apartments with fully equipped kitchens, large pantry spaces, ceiling fans,… Read More →

Capital firm buys Chandler apartments for $28.75M

Chandler apartments
by in AZRE Magazine | Multi-Family

Capital Real Estate purchased a 203-unit Chandler apartment complex for $28.75 million from Stratford Partners, according to Institutional Property Advisors (IPA), a division of Marcus & Millichap. Palm Trails Apartments were built in 2002 by CMH Corp., and is located at 235 E. Ray Rd., in Chandler. The price for the apartment community equates to $141,626 per… Read More →

Mesa apartments near Falcon District sell

sold
by in AZRE Magazine | Brokerage

California-based OpenPath Investments purchased Green Leaf Vista, a 98-unit apartment complex in Mesa, from Green Leaf Partners for an undisclosed amount, according to brokerage firm Marcus & Millichap who represented the sellers. The property is located at 3443 E. University Dr. in Mesa, four miles from the Falcon District, a 5,100-acre area composed of more than 10… Read More →

Ahwatukee Chipotle sells for $2.551M

sold
by in AZRE Magazine

Marcus & Millichap (NYSE: MMI), negotiated the sale of Chipotle, a 3,000-square foot net-leased property located in Ahwatukee in Phoenix, according to Donald D. Morrow, regional manager of the firm’s Phoenix office. The asset sold for $2,551,000. Jamie Medress, Mark Ruble, and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive… Read More →

16-unit Phoenix apartment complex sells for $2.463M

Phoenix apartment complex
by in AZRE Magazine | Multi-Family

Haven, a 16-unit Phoenix apartment near Maryland and Central Avenues, sold for $2,463,158 or $153,947 per unit, according to Marcus & Millichap, the firm that worked on the deal. The apartments were updated in 2016, and are located in the Uptown Phoenix corridor at 6501 N. 3rd Avenue, Phoenix, Ariz. Brian Tranetzki and Rich Butler, multifamily investment… Read More →

Sun King apartment complex sells for $35.1 million

by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a Marcus & Millichap division that works with investors, is finished the sale of Sun King, a 360-unit apartment property in Scottsdale, Arizona. Baron Properties purchased the property from CRS Scottsdale Housing Corporation in the $35.1 million deal, which equates to $97,500 per unit. “Completed in 1973, this asset was held and operated by… Read More →

IPA arranges $42M sale of The Isle at Arrowhead Ranch

IPA
by in AZRE Magazine

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, negotiated the sale of The Isle at Arrowhead Ranch, a 256-unit apartment property in Glendale, Arizona. The $42 million sales price equates to $164,000 per unit. Gebing and Cliff David, a senior director of Marcus &… Read More →

Marcus & Millichap sells 155-unit property for $10.6M

Marcus & Millichap
by in AZRE Magazine | Multi-Family

Marcus & Millichap (NYSE: MMI) negotiated the sale of Wyndham Place, a 155-unit multifamily community located in Phoenix, Arizona. The asset commanded a sales price of $10,600,000 or $68,387 for unit. Rich Butler, a senior director of Marcus & Millichap’s National Multi Housing Group and Brian Tranetzki, an associate director of Marcus & Millichap’s National Multi… Read More →

Marcus & Millichap sells $8.5M apartment community

by in AZRE Magazine

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Aria on Mill, a 76-unit apartment community in Tempe, Arizona. The $8,525,000 sales price equates to more than $112,000 per unit.             “Developed in 1988, Aria on Mill provides new ownership with… Read More →

Colliers negotiates $8.08M apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Springwood Apartments at 2540 N. 51st Ave. have been sold for $8,080,000 to a California private investor. The sale is part of the dynamic multifamily investment market attracting out-of-state buyers to Phoenix. “This buyer recognizes a terrific value-add opportunity in this property,” says Trevor Koskovich, executive vice president with Colliers International in Greater Phoenix. “The… Read More →

Q3 multifamily report features analysis, outlook

multifamily
by in AZRE Magazine | Multi-Family

 Job Growth Intensifies Apartment Demand and Construction in Tempe Hiring by large companies will generate further demand in local apartments, creating density in urban corridors, according to a report compiled by Marcus & Millichap. Continued optimism by Phoenix employers boosted job growth during the past four quarters, with increases expected throughout the year. White-collar jobs… Read More →