Marcus & Millichap Arranges Sale Of 43,486SF Mixed-Use Building
GLENDORA, CA, July 14, 2021 – 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 Royal Palms Apartments and Professional Building, a 43,486-square foot mixed-use property located in Glendora, CA, according to Adam P. Christofferson, Regional Manager of the firm’s Ontario office. The asset sold for $10,150,000.
Douglas McCauley, David Covarrubias and Zachary Rosen, investment specialists in Marcus & Millichap’s Ontario office, had the exclusive listing to market the property on behalf of the sellers. The buyer, a partnership, was secured and represented by Douglas McCauley, David Covarrubias and Zachary Rosen.
Royal Palms Apartments and Professional Building is located at 618-620 W Route 66 in Glendora, CA. The property consists of 48 apartment units and 28 commercial suites. Royal Palms was built in 1962 and sits on a 1.45 acre site.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.