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Marcus & Millichap Brokers the sale of Cactus Road, 24-Unit Apartment Building in Phoenix

April 14, 2022

PHOENIX, April 14, 2022 – 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 Cactus Road, a 24-unit apartment property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $6,250,000.

“Primely located less than two miles west of State Route-51 off of Thunderbird-Cactus Road in a desirable North Mountain single-family neighborhood, Cactus Road is posed for sustained rental growth and desirability,” shared Paul Bay, first vice president investments in Marcus & Millichap’s Phoenix office. Bay had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, another private investor, was procured by Bay.

Cactus Road is located at 2223-2255 East Cactus Road in Phoenix, Arizona.

 

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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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