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Marcus & Millichap Arranges the Sale of a 11,478-Square-Foot Retail Property

December 28, 2021

Austin, Minnesota, December 28, 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 Walmart Shadow Center, a 11,478-square-foot retail property located in Austin, Minnesota, according to Todd E. Lindblom, regional manager of the firm’s Minneapolis office. The asset sold for $1,855,000.

Tom Gommels, an investment specialist in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Tom Gommels.

The Walmart Shadow Center is located at 803 18th Avenue NW in Austin, Minnesota. The deal length was 59 days from contract to close, despite facing inspection and appraisal issues. The purchase also featured a value-add component as an additional buildable lot was included in the purchase.

 

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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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