PHOENIX, ARIZONA – 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 Berridge Villa, a 40-unit apartment property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,900,000 ($97,500 per unit).
“Located immediately behind Abrazo Central Campus hospital in a quiet residential neighborhood and one mile northwest of Christown Spectrum Mall, Berridge Villa offers residents immediate access to a variety of employment opportunity while providing a residential community feel given it’s positioning in the Washington Park neighborhood,” said Paul Bay, vice president investments in Marcus & Millichap’s Phoenix office.
Paul Bay and Darrell Moffitt, senior vice president investments had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, an individual/personal trust, was also procured by Bay and Moffitt. Berridge Villa is located at 2040 West Berridge Lane in Phoenix, Arizona.