Press Releases
Marcus & Millichap Brokers $5M Sale of 72-Unit Multifamily Property in Rochester, Minnesota
January 02, 2026
ROCHESTER, Minn., Dec. 29, 2025 – 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 Sutton Place Apartments, a 72-unit multifamily property in Rochester, Minnesota, for $5,025,000.
“The seller successfully reinvested the proceeds through a 1031 exchange, and the buyer was attracted to the property’s strong performance and well-maintained condition,” said Abe Roberts, managing director investments. “Rochester continues to gain traction with investors looking for stable, high-performing assets outside the Twin Cities metro.”
Roberts and Michael Jacobs, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Park Place Apartments Mgmt., LLC, and procured the buyer, LRE Rochester 2, LLC.
Sutton Place Apartments, located at 1903 17th St. SE, includes 72 one-bedroom units across 43,560 rentable square feet. Built in 1979, the property sits on 3.03 acres near McQuillan Park and the Mayo Clinic.
“The seller successfully reinvested the proceeds through a 1031 exchange, and the buyer was attracted to the property’s strong performance and well-maintained condition,” said Abe Roberts, managing director investments. “Rochester continues to gain traction with investors looking for stable, high-performing assets outside the Twin Cities metro.”
Roberts and Michael Jacobs, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Park Place Apartments Mgmt., LLC, and procured the buyer, LRE Rochester 2, LLC.
Sutton Place Apartments, located at 1903 17th St. SE, includes 72 one-bedroom units across 43,560 rentable square feet. Built in 1979, the property sits on 3.03 acres near McQuillan Park and the Mayo Clinic.
# # #
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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
