RENTON, WA, November 12, 2021 – 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 Cedar River Station, a 3.01 acre 25,843 SF retail property located in Renton, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $15,000,000.
Andrew Scotland, Clayton J. Brown and Ruthanne Romero, investment specialists on the Brown Retail Group in Marcus & Millichap’s Seattle office, exclusively represented the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Andrew Scotland, Clayton J. Brown and Ruthanne Romero.
Cedar River Station is located at SE Maple Valley Hwy in Renton, WA. This new construction, multi-tenant center, featured a strong performing Starbucks with a drive-thru and a wide array of other National/Regional Tenants. Brown Retail Group’s diverse network of clientele created a competitive price for this off-market transaction.
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.