Home Commercial 69,625 SQFT Retail Property in Spokane Sells for $7.834MM

69,625 SQFT Retail Property in Spokane Sells for $7.834MM

Marcus & Millichap, Michaels, Spokane, North Division Street
Courtesy of Marcus & Millichap

SPOKANE, WA – 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 7630 North Division Street, a 69,625-square foot freestanding retail property located within the Northgate Shopping Center in Spokane, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $7,834,000.

Charlie Hampton and III, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a Washington based limited liability company. A California based, limited liability company, was the purchaser.  

Michaels Crafts and Cash & Carry are long term occupants of the property, originally constructed in 1978, and renovated in the 1990’s and 2000’s.  The property fronts North Division Street (SR2), minutes north of the downtown central business district, in an area revered as north Spokane’s preeminent retail corridor. 

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.