Marcus & Millichap has successfully sold Spring Creek Center, a thriving retail strip property in Derby, Kansas. The sale was completed for $5.3 million and involved the collaboration of our team with an all-cash private investor from the East Coast.
According to Alex Perez, first vice president of investments at Marcus & Millichap, this deal was made possible by sourcing a buyer who offered a higher price than local buyers while also securing a better deal than he could find in his home market.
The exclusive listing for this property was held by Perez and Chris Garavaglia from our St. Louis office on behalf of the seller – a private equity group. Colby Haugness, Broker of Record in Kansas also played an important role in facilitating the transaction.
Built just over ten years ago on 3.28 acres at 1821 E Madison Ave., Spring Creek Center boasts 31,557 square feet divided into three buildings housing twelve fully leased suites occupied by medical offices as well as dining and service-oriented businesses.
This successful sale is yet another testament to Marcus & Millichap’s expertise and dedication to providing exceptional real estate services across various markets.
