Marcus & Millichap Arranges the Sale of a 8,104-Square Foot Retail Property

BELFAIR, WA, December 4, 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 McLendon Place, a 8,104-square foot retail property located in Belfair, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $1,650,000.

Michael Babicz 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. The buyer, a limited liability company, was secured and represented by Zach Howe, an investment specialist in Marcus & Millichap’s Seattle office.

McLendon Place is located at 23552/23554 WA-3 in Belfair, WA. The property procured multiple offers and sold at a record price per square foot for the Submarket. McLendon Place was sold to a local 1031 exchange buyer at full asking price.

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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.