{"id":1004110993,"date":"2015-01-16T05:56:45","date_gmt":"2015-01-16T13:56:45","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=316874"},"modified":"2022-12-08T19:36:43","modified_gmt":"2022-12-09T03:36:43","slug":"marcus-millichap-closes-two-m-f-sales-totaling-106-units","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-two-m-f-sales-totaling-106-units\/","title":{"rendered":"SPOTLIGHT ON MINNEAPOLIS: Marcus &amp; Millichap Closes Two M-F Sales Totaling 106 Units"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_316875\" class=\"wp-caption alignleft\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/Grant-Street-Commons.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-316875\" title=\"Grant Street Commons\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/Grant-Street-Commons.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Grant Street Commons<\/em><\/p>\n<\/div>\n<p>Brokerage firm Marcus &amp; Millichap recently arranged the sale of two multifamily properties in the city of Minneapolis for close to $10.5 million. Dan Linnell, Josh Talberg and Mox Gunderson of the company\u2019s Minneapolis office represented both parties in the transactions.<\/p>\n<p>Grant Street Commons, an 84-unit apartment community located at 515 E. Grant St., went for nearly $8.5 million. According to Linnell, the buyer plans to invest in upgrades to residential units and common-area amenities in order to obtain higher rents. The building consists of nine studio, 65 one-bedroom and 10 two-bedroom apartments and is located in close proximity to the new Vikings Stadium and the Downtown East mixed-use development. Grant Street Commons also offers surface and underground parking, a fitness center and a community room.<\/p>\n<div id=\"attachment_316879\" class=\"wp-caption alignright\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/Amber-Court1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-316879\" title=\"Amber Court\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/Amber-Court1.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Amber Court Apartments<\/em><\/p>\n<\/div>\n<p>Amber Court Apartments, a 22-unit apartment building at 5523 and 5531 Washburn Ave. South, sold for\u00a0<span style=\"font-size: 13px\">$2.1 million. Built in 1959, it includes vintage features such as original woodwork and hardwood flooring. \u201cThe deal received interest from both local and out-of-state investors, ultimately generating 18 offers within a two-week marketing timeline,\u201d Talberg explained. \u201cThe property closed within 2.5 weeks of going under contract substantially over list price.\u201d<\/span><\/p>\n<p><em>Images courtesy of Marcus &amp; Millichap<\/em><\/p>\n<p><strong><a href=\"https:\/\/www.multihousingnews.com\/market-data\/market-snapshot-twin-cities-economy-on-the-rise\/1004107869.html\">Click here<\/a><\/strong> for further market data on <strong>Minneapolis.<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brokerage firm Marcus &amp; Millichap has arranged the sale of two multi-family properties in Minneapolis.<\/p>\n","protected":false},"author":1327,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36076],"tags":[],"class_list":["post-1004110993","post","type-post","status-publish","format-standard","hentry","category-minneapolis-st-paul"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SPOTLIGHT ON MINNEAPOLIS: Marcus &amp; 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