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Marcus & Millichap Closes Inver Grove Heights Apartment Asset Sale

November 29, 2023

Inver Grove Heights Minn., November 29, 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 8213 College Trail, a four-building apartment complex totaling sixty units in the City of Inver Grove Heights, MN, according to Todd E. Lindblom, regional manager of the Minneapolis office. The property sold for $7,536,000.

Abe Roberts, Senior Vice President Investments, and Michael Jacobs, Senior Associate, in Marcus & Millichap’s Minneapolis office had the exclusive listing to market the property on behalf of the seller and procured the buyer.

Constructed in 1987 and situated on a spacious five-acre lot, The Commons offers over 60 thousand square feet of rentable space. Its strategic location just steps away from Inver Hills Community College significantly enhances its rental demand. Notably, the residences at The Commons have undergone meticulous renovations, showcasing upscale elements such as granite countertops, stainless steel appliances, and elegant cherry cabinetry.

 

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. 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 our 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.

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