WICHITA, Kan., March 4, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Huntington Park, (top left photo) a 188-unit, 147,228-square foot luxury multifamily property in Wichita.
The listing price of $12.5 million represents $66,489 per unit and $85 per square foot.
Joe James, a multifamily investment specialist and an associate member of the firm’s National Multi Housing Group (NMHG) in St. Louis, and Eric Michel, also a multifamily investment specialist and member of the NMHG in St. Louis, are representing the seller, a Wichita-based developer.
Adam Christofferson, (middle right photo) a first vice president of the firm and broker of record for Kansas, is also providing representation.
“Our investors are looking for access to well-positioned assets in stable markets, and we are committed to finding them opportunities,” says James. “Fundamentals remain relatively strong in secondary markets such as Wichita, as demonstrated by Huntington Park’s rents and historically high occupancy rate.”“Larger metropolitan areas may receive more headlines plenty of opportunities exist in smaller markets,” adds Michel. “Wichita’s stable economic climate, strong prospects for job growth and a positive trend in population bode well for properties such as Huntington Park.”
The property is located at 1313 N. Maize Road, just west of Interstate 235 on the city’s west side near high-traffic commuter highways and employment corridors. The property is situated within an affluent area and is adjacent to a landscaped water reserve.
Located on the Arkansas River in south central Kansas, Wichita is the most populous city in the state. In 2009, Wichita was recognized by the National Civic League as an All-America City.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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