marcus millichap Archives

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

aria-on-mill
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 →

Mark Ruble promoted at Marcus & Millichap

Mark Ruble
by in AZRE Magazine

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, promoted Mark Ruble to senior vice president investments. Most recently, Ruble held the position of first vice president investments. Ruble joined Marcus & Millichap through the firm’s Sales Intern Program in 2004 and became… Read More →

Roosevelt Row apartments sell for $1.2M

Roosevelt Row
by in AZRE Magazine | Brokerage | Multi-Family

The Phoenix offices of Marcus & Millichap (NYSE: MMI), negotiated the sale of The SEBO, an early century historic apartment building located in the prestigious Roosevelt Historic District of Downtown Central Phoenix. The asset commanded a sales price of $1,200,000 or $150,000 per unit. The property is located at 402 W. Roosevelt St., Phoenix, Arizona. Brian Tranetzki and… Read More →

Marcus & Millichap sells Glendale LA Fitness for $12.5M

Glendale LA Fitness
by in AZRE Magazine | Brokerage

Commercial real estate firm, Marcus & Millichap (NYSE: MMI), arranged the sale of a freestanding 46,000-square-foot LA Fitness in Glendale, Arizona for $12.5 million. The property, which is located at 5536 W. Bell Rd., Glendale Ariz., 853058, sale equates to $272 per square foot. The property is located inside a shopping center within one of Glendale’s busiest… Read More →

Marcus & Millichap hires new VP of research

Lybik_Jay_Edit
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, today announced the addition of Jay Lybik as vice president, research services, according to Gregory LaBerge, chief administrative officer of Marcus & Millichap. Lybik joins Marcus & Millichap with over 20 years of real… Read More →

$34.35M apartment community sold by IPA

Walker & Dunlop
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, negotiated the sale of Whispering Meadows a 432-unit apartment property in Mesa. The $34.35 million sales price equates to nearly $80,000 per unit. Community amenities at Whispering Meadows include two resort-style swimming pools, a colorful clubhouse,… Read More →

Marcus & Millichap sells Phoenix multifamily complex

multifamily
by in AZRE Magazine | Multi-Family

The Phoenix office of commercial real estate investment services firm, Marcus & Millichap (NYSE: MMI), completed the sale of The Shorewood, a recently renovated mid-century art deco style apartment building in the Midtown Phoenix corridor. The apartments sold for $2,650,000 or $126,190 a unit, and are located at 3601 N. 5th Ave. in Phoenix. Brian Tranetzki and Rich Butler, multifamily investment… Read More →

Marcus & Millichap arrange $13.8M sale

Sale
by in AZRE Magazine | Brokerage | Multi-Family

The Phoenix offices of Marcus & Millichap (NYSE: MMI) arranged the sale of Redwood Place, an 186-unit multifamily community in Phoenix. The $13,805,000 sales price measures out to more than $74,000 per unit. “Built in 1984, Redwood Place has a collection of interior characteristics and contemporary amenities that are atypical of its era,” says Cliff David,… Read More →

IPA sells $58.55M multifamily property

Multifamily property
by in AZRE Magazine | Brokerage

Marcus & Millichap division, Institutional Property Advisors (IPA), brokered the sale of MonteViejo Apartment Homes, a 480-unit multifamily asset located in the rolling hills of northeast Phoenix. The property sold for $58.55 million, or just less than $122,000 per apartment. “Excellent submarket fundamentals, such as high median household income, income growth and high occupancy support MonteViejo’s operational momentum,”… Read More →

Marcus & Millichap’s IPA sells $45.5M multifamily complex

123rf.com: Oleg Dudko
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the sale of Arboretum at South Mountain, a 312-unit apartment community in Ahwatukee Foothills, an urban village adjacent to South Mountain Park in Phoenix. The $45.5 million sales price equates to just less than $146,000 per unit. “This luxurious multifamily community combines the comfort of… Read More →

Tucson apartments sell for $3.12M

sold
by in AZRE Magazine | Multi-Family

Marcus & Millichap (NYSE: MMI), a commercial real estate investment services firm with Phoenix offices, completed the sale of Tucson apartments, the Desert Cove, a 70-unit apartment property. Don Morrow, regional manager of the firm’s Phoenix office, said the asset sold for $3,120,000. Hamid Panahi, James Crawley, Cliff David and Steve Gebing, investment specialists in Marcus &… Read More →