CAMPBELL, Calif., June 19, 2014 – 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 Sun Dial Garden Apartments, a 40-unit apartment complex located in Campbell, Calif., according to Steven J. Seligman, regional manager of the firm’s Palo Alto office. The asset sold for $7,730,000.
Mitchell Zurich and Brad Lehman, two of the most active agents in Marcus & Millichap’s Palo Alto office, negotiated the sale of the property on behalf of the seller, a private investor. Zurich and Lehman also represented the buyer, a limited liability company that was coming out of a 1031 exchange.
The Sun Dial Garden Apartments is located on two separate parcels at 300 and 350 Dunster Drive in Campbell, California. The asset is walking distance from downtown Campbell and consists of (30) one-bedroom/one bath units and (10) two-bedroom/one bath units.
About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit:www.MarcusMillichap.com