Cushman & Wakefield Negotiates Sale of Midtown Apartment Community

PHOENIX, March 22, 2017 – Cushman & Wakefield announced the $17.5 million sale of Clarendon Park, a 138-unit apartment community located at 222 W. Clarendon Avenue in Phoenix, to Phoenix-based Rincon Partners, LLC.

Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office represented the buyer.

Built in 2002, Clarendon Park offers studio, 1- and 2-bedroom floor plans with an average unit size of 703 square feet. Totaling 97,048 square feet, community amenities include fitness center, pool, garages, in unit washer/dryer and easy access to the Metro light rail and other public transportation.

“This purchase offers the buyer an opportunity to take advantage of the positive fundamentals taking place in this infill location,” said Polachek.

Located in the heart of Phoenix, the property is in a walkable area with quick and easy access to fine dining, museums, galleries, theater, music and major league sports facilities. In addition, the Metro light rail is less than an eight minute walk. For further commutes, the property is in close proximity to four major freeways including I-10, US 51, I-17 and US-60.

About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake  on Twitter.