Marcus & Millichap Sells Downtown Tempe Multifamily for $2.6 Million

Revival Tempe in Downtown Tempe

TEMPE, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Revival Tempe, a 14-unit apartment complex located in Downtown Tempe. The asset commanded a sales price of $2,583,800 or $184,557 per unit.

Rich Butler, a Senior Vice President Investments specializing in multifamily product in Marcus & Millichap’s Phoenix office had the exclusive listing and negotiated the transaction on behalf of the seller, a local limited liability company and the buyer, an out of state 1031 exchange investor.