Eastern Washington– 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 its Washington USDA Office Portfolio, a three-unit portfolio located in Ephrata, Ritzville and Davenport, Washington comprising of 21,713 total square feet, according to Grant Fitzgerald, Regional Manager of the firm’s Columbus office. The portfolio sold for a total of $2,650,000.
Justin Fenn, Dan Yozwiak and Darpan Patel, investment specialists in Marcus & Millichap’s Columbus and Tampa offices, had the exclusive listing to market the property on behalf of the seller, a private investor. Joel Deis, Washington Regional Manager and Broker of Record assisted in closing this transaction.
Justin Fenn, the lead agent on the transaction had the following to say, “single tenant GSA assets in tax free states continue to be in high demand. This is true even for tertiary markets with minimal firm term when priced appropriately.”
The Ephrata USDA office is located at 214 Basin Street SW in Ephrata, Washington. The Davenport office is located at 1310 Morgan Street in Davenport, Washington. The Ritzville office is located at 506 South Weber Avenue in Ritzville, Washington.
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.