Marcus & Millichap closed the sale of Spring Valley, a 76-unit apartment property in Newark, Ohio. The asset sold for $2.5 million.
Michael Barron, Daniel Burkons, Joshua Wintermute, Richard Lattro and Jordan Marshall, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a local investment group that specializes in properties located within tertiary markets throughout Central Ohio, was also secured by the listing agents.
Spring Valley is located at 269 Quail Creek Drive in Newark. The community consists of 76 two-bedroom townhome units and was built in 1992. The property sits just minutes from State Route 16.