Marcus & Millichap Arranges the Sale of a 12,000-Square Foot Industrial Building in Renton, WA

RENTON, WA, February 26, 2024 – 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 61 Shattuck Ave S, a 12,000-square foot industrial property located in Renton, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $2,300,000.

Anne Goldman 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 limited liability company.

RJ Vara and Anne Goldman were able to generate 7 competing offers at or above the asking price and achieved nearly $200 per square foot. This represents a record price per square foot for 1970s vintage construction in the submarket.

 

#     #     #

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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.