Marcus & Millichap : Arranges the Sale of a 14,775-Square Foot Retail Property
June 29, 2023 at 12:42 am
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Marcus & Millichap Arranges the Sale of a 14,775-Square Foot Retail Property
June 28, 2023
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AUBURN, WA, June 28, 2023 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Auburn Retail Center, a 14,775-square foot retail property located in Auburn, WA, according to Joel Deis, regional manager of the firm's Seattle office. The asset sold for $7,191,200.
Brian Leibsohn and RJ Vara, investment specialists in Marcus & Millichap's Seattle office, had the exclusive listing to market the property on behalf of the seller, a private investor. Auburn Retail Center is located at 1510 Industry Dr SW in Auburn, WA.
Auburn Retail Center generated multiple offers and closed at nearly $500 per square foot. The seller was in a 1031 Exchange and was able to exchange into a highly diversified asset which will increase his cash flow by 77%.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 28 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2023 23:41:10 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
