NORMANDY PARK, WA, September 17, 2021 – The Leibsohn Group of 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 Normandy Village, a 8,477-square foot retail property located in Normandy Park, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $3,500,000.
Brian Leibsohn and Raymond Vara, investment specialists with The Leibsohn Group in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the Seller, a private investor.The Buyer, also a private investor, was secured and represented by Brian Leibsohn, Jarrod J. Huffaker and Raymond Vara, all investment specialists with The Leibsohn Group. Tammy Linden, Vice President Capital Markets with Marcus Millichap Capital Corporation’s Seattle office placed the debt for the Buyer with a regional credit union.
Normandy Village is located at 17651 1st Ave S in Normandy Park, WA. The property is a multi-tenant mixed use neighborhood retail center with 100% occupancy. The property was constructed in 1993 and features a diverse tenant mix of professional medical providers and small retail business owners.
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.