1

Marcus & Millichap Brokers the Sale of Glenn Isle, a 22-Unit Apartment Building in Glendale, Arizona

GLENDALE, Ariz., 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 Glenn Isle, a 22-unit apartment property located in Glendale, Arizona.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,425,000 ($156,000 per unit).

“Setback from Glendale Avenue between Glendale’s historic downtown and Westgate entertainment districts, Glenn Isle is poised for sustained rental growth and desirability,” shared Paul Bay, first vice president investments in Marcus & Millichap’s Phoenix office. Bay had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was procured by Bay.

Glenn Isle is located at 6802 West Glendale Avenue in Glendale, Arizona.