Marcus & Millichap Arranges the Sale of Retail Strip Center

WOODBURY (TWIN CITIES), MINN.  –  Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of AT&T | Mattress Firm, a 8,400-square foot retail property located in Woodbury (Twin Cities), MN, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $3,243,000.

Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a Minnesota limited liability company, was secured and represented by Zach House, Jon Ruzicka, regional manager of the firm’s Minnesota firm, assisted in closing this transaction“The buyer was in a 1031 tax deferred exchange after selling out of an apartment building in close proximity to the subject property,” said House. “We took the time to truly understand the client’s objectives and provided a number of options to purchase properties in their immediate area. This well located retail center satisfied all of the buyers needs by providing a predictable stream of revenue.”

AT&T | Mattress Firm is located at 10100 City Walk Drive in Woodbury (Twin Cities), MN.

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