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| The Residence at Central Texas Marketplace, Waco, TX |
WACO, TX –
Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment
services firm with offices throughout the United States and Canada, announced
the sale of The Residence at Central
Texas Marketplace, a 216-unit apartment community in Waco, Texas. The terms
of the sale were not released.
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| Joe James |
Joe James and Kent Myers, both associate vice presidents
investments in Marcus & Millichap’s Austin office, represented the seller
and procured the buyer.
“Investor
demand for apartments in Texas’ secondary markets like Waco remains high with
more and more buyers aggressively seeking opportunities in such markets,” says
James.
“This asset
received a great deal of interest due to its location adjacent to the large
Central Texas Marketplace shopping center and proximity to Waco’s healthcare
job centers,” adds Myers.
Built in 2005 on 11 acres at 5210
Bagby Ave. in Waco, the community is located at Waco’s most prominent highway
exchange, the intersection of Interstate 35 and Loop 340/Highway 6.
The Central
Texas Marketplace is an 800,000-square-foot open-air retail center is within
walking distance, and employers such as Baylor University, L-3 Communications
Integrated Systems and the Waco Independent School District are nearby.
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| Kent Myers |
Apartments
at The Residence at Central Texas Marketplace feature crown moldings, built-in
computer desks and kitchens with faux-granite countertops and black Whirlpool
appliances.
Select units have nine-foot ceilings and vinyl wood-plank flooring.
Community amenities include controlled access gates, a resort-style swimming
pool, a fitness center, a business center, detached garages, covered parking, a
car wash, social areas with grills and exterior storage units.
For a complete copy of the company’s
news release, please contact:
Gina Relva
Public
Relations Manager
(925)
953-1716
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