Marcus & Millichap Real Estate Investment Services recently sold 1790 Washington Avenue S, a 19,250-square-foot industrial property located in Stillwater, Minn. The asset commanded a sales price of $1.8 million.
Michael Ahles, an office/industrial investment specialist in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a private investor.
The buyer, a limited liability company, was also secured by Ahles.
“This property was an excellent investment due to its long-term tenancy and overall rate of return.” Ahles said. “Although the suburban office and industrial market has lagged in the past few years, I expect to see additional sales like this one as the economy continues to improve and buyers see the benefit of owning these types of assets.”