GILBERT, AZ—Marcus & Millichap Real Estate Investment Services has arranged the sale of Legacy Village at Gilbert Towne Center, a 147-unit multifamily property in Gilbert to a San Diego-based private buyer $15,.65 million.
Steve Gebing, a vice president investments and Cliff David, also a vice president investments, both in Marcus & Millichap's Phoenix office, represented the seller, Legacy Partners Residential. The buyer, a San Diego-based private investor, was represented by Dixie Hall of CB Richard Ellis' San Diego office. The selling price equates to $106,463 per unit.
“Legacy Village at Gilbert Towne Center is the signature destination for luxurious apartment living in the young and affluent town of Gilbert,” says Gebing.
“The submarket's prominence is fueled by a well-educated and well-paid workforce,” adds David.
Developed by Legacy Partners Residential in 2001, the property is located at 351 East Civic Center Drive in Gilbert. Legacy Village at Gilbert Towne Center's apartment interiors have nine-foot ceilings, fully equipped gourmet kitchens with black appliances and custom cherry wood cabinetry, designer-grade carpeting and ceramic tile entries, full-sized washers and dryers, spacious walk-in closets and linen closets, and private patios or balconies with additional outside storage.
Community amenities include a clubhouse with separate clubroom, fireplace, and kitchen/wet bar, a fully appointed business center, state-of-the-art fitness center, a resort-style swimming pool and therapeutic spa with relaxing park views, serene outdoor spaces featuring ramadas and barbecue grills, controlled access gated entry.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
