marcus millichap Archives

IPA sells Tempe multifamily property for $16.6M

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by in AZRE Magazine | Brokerage | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of Cabana on McClintock, a 181-unit multifamily property in Tempe for $16.6 million. IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller, Deco Communities,… Read More →

Shea Professional Plaza sold for $1.2 million

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by in AZRE Magazine | Brokerage

Marcus & Millichap (NYSE: MMI), a commercial real estate investment services firm, announced Monday the sale of a 26,531-square foot office property in Phoenix for $1,200,000. The property has one tenant with an occupancy rate of 38 percent, and the owner plans to completely renovate the building. It was built in 1976. The office, Shea… Read More →

IPA arranges sale of Ahwatukee multifamily complex

IPA

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has arranged the sale of Mountainside, a 288-unit luxury apartment complex located on more than 14 acres within Mountain Park Ranch, a 2,500-acre master-planned community in the urban village of Ahwatukee in Phoenix. The terms… Read More →

Marcus & Millichap arrange sale of 76-unit property

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Marcus & Millichap announced the sale of Candela Park, a 76-unit apartment property located in Mesa, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $5,925,000. Cliff David, a Marcus & Millichap vice president investments, Steve Gebing, a senior director with Institutional Property Advisors, a division of Marcus… Read More →

Yuma’s River Park Apartments command $13.2M

123rf.com: feverpitched

Marcus & Millichap announced the sale of River Park Apartments, a 176-unit apartment property in Yuma, Ariz. The asset sold for $13.2 million, which equates to $75,000 per unit. Michael Hubl, vice president investments and director of Marcus & Millichap’s National Multi Housing Group in Phoenix, had the exclusive listing to market the property on… Read More →

Westwood Financial Corp. buys Avondale Fiesta mall

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Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of grocery-anchored retail properties in the United States, announced the acquisition of the Avondale Fiesta shopping center for $7.6 million. The Kroger shadow-anchored center is 34,129 square feet and is located at 11435 West Buckeye Road in Avondale, Arizona, in the greater Phoenix area. Avondale… Read More →

IPA sells southeast valley multifamily complex for $18.6M

Bayview

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has sold Bayview Apartments, a 204-unit multi-housing community in Mesa, Ariz. The $18.6 million sales price equates to more than $91,000 per unit. IPA senior director Steve Gebing and Marcus & Millichap senior director Cliff David… Read More →

Southwest Valley apartment building sells for $12.1M

Marble Creek

Marcus & Millichap has sold Marble Creek, a 244-unit apartment property in Phoenix. The asset sold for $12,100,000. Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property Advisors, a division of Marcus & Millichap, both in the firm’s Phoenix office, handled the sale on behalf of the… Read More →

Hotel Tucson City Center Inn Suites sells for $9.65M

Hotel Tucson City Center Inn Suites

Marcus & Millichap has sold Hotel Tucson City Center Inn Suites, a 267-room hospitality property located in Tucson, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $9,650,000. James I. Meng and Jon R. Grantham, hospitality investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market… Read More →

Marcus & Millichap sell three properties totaling $10.75M

Ventana

Ventana Medical Systems Inc. Marcus & Millichap announced the sale of Ventana Medical Systems Inc., a 60,000-square foot net-leased property located in Marana, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $8,600,000. Mark Ruble and Jamie Medress, investment specialists in Marcus & Millichap’s Phoenix office, had the… Read More →

Sunflower apartments in Tucson sell for $4.1M

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Marcus & Millichap announced the sale of Sunflower, a 144-unit apartment property located in Tucson, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $4,100,000. Hamid Panahi, Cliff David and Steve Gebing, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property… Read More →

Marcus & Millichap closes the sale of 3 properties

123rf.com: feverpitched

Wells Fargo Marcus & Millichap announced the sale of Wells Fargo Ground Lease, a 4,692-square foot net-leased property located in Marana, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $2,118,000. Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing… Read More →

Villas at Cave Creek in Phoenix now under new ownership

Villas at Cave Creek
by in AZRE Magazine | Brokerage | In The Spotlight

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has sold Villas at Cave Creek, a 696-unit multifamily community in Phoenix. The terms of the sale were not released. IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller,… Read More →

Holiday Inn Express in Tempe sells for $11M

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by in AZRE Magazine | Brokerage | In The Spotlight

Marcus & Millichap sold the 128-room Holiday Inn Express Hotel & Suites in Tempe, Ariz. The $11,080,000 sales price equates to $86,563 per room. Jon Grantham and James Meng, associates in Marcus & Millichap’s Phoenix office, represented the seller and procured the buyer. “The property’s strategic proximity to two major transportation arteries and major demand… Read More →