Marcus & Millichap Inc.
10/11/2024 | Press release | Distributed by Public on 10/11/2024 16:01
Marcus & Millichap Brokers Sale of 103-Unit Apartment Property in St. Paul
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Marcus & Millichap Brokers Sale of 103-Unit Apartment Property in St. Paul
October 11, 2024
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ST. PAUL, Minn., Oct. 10, 2024 - 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 Wheelock Parkway Apartments, a 103-unit apartment property located in St. Paul, Minnesota.
"Wheelock Parkway was sold for the first time in over 50 years as the owner was looking to reposition their portfolio," said Chris Collins, first vice president investments.
Collins, Evan Miller, Eric Wagner, Matthew Shide and Zack Olson, investment specialists in Marcus & Millichap's Minneapolis and Milwaukee offices, had the exclusive listing to market the property on behalf of the seller, a Minnesota limited liability company, and procured the buyer.
Wheelock Parkway Apartments, located at 1609 N. Woodbridge St., features 44 one-bedroom units and 59 two-bedroom units across 85,580 rentable square feet. The property includes amenities such as an outdoor pool, laundry facilities, a playground, picnic areas, and a walking/biking path bordering the property line. Constructed from 1965 to 1967, the asset is near the Como Park Zoo and Rosedale Center in the North End neighborhood of St. Paul.
"Wheelock Parkway was sold for the first time in over 50 years as the owner was looking to reposition their portfolio," said Chris Collins, first vice president investments.
Collins, Evan Miller, Eric Wagner, Matthew Shide and Zack Olson, investment specialists in Marcus & Millichap's Minneapolis and Milwaukee offices, had the exclusive listing to market the property on behalf of the seller, a Minnesota limited liability company, and procured the buyer.
Wheelock Parkway Apartments, located at 1609 N. Woodbridge St., features 44 one-bedroom units and 59 two-bedroom units across 85,580 rentable square feet. The property includes amenities such as an outdoor pool, laundry facilities, a playground, picnic areas, and a walking/biking path bordering the property line. Constructed from 1965 to 1967, the asset is near the Como Park Zoo and Rosedale Center in the North End neighborhood of St. Paul.
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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.