By AZ Big Media
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 Summit Church, a 17.89-acre multifamily property located in Buckeye, Arizona. The asset sold for $9,300,000.
“The buyer, Highstreet Ventures from Canada, will build 510 multifamily rental units on this property,” said Michael Farrar, associate in Marcus & Millichap’s Phoenix office. “They plan to offer rental units to satisfy the demand for this type of housing stock in this rapidly developing submarket with a growing employment corridor.” The buyer, Highstreet Ventures Inc, was represented by Farrar and Art Rullo, associate in the firm’s Phoenix office. The seller, Summit Community Lutheran Church, was represented by Bret Rinehart and Wesley Campbell with Land Advisors Organization.
