Marcus & Millichap has completed the sale of The Jax, a 48-unit multifamily property in Saint Paul, Minnesota, for $8 million.

“The St. Paul market, and more specifically Lowertown, has seen an increase in sales over the past year,” said Chris Collins, first vice president investments. “Many investors find the basis to be attractive long term as the market continues to improve, and The Jax offered a rare chance to acquire a fully renovated, loft-style asset in a desirable Lowertown location.”

Collins, Evan Miller, Eric Wagner and Matt Shide, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a local limited liability company, and procured the buyer, a Chicago-based investor.

Located at 253 4th St. E, The Jax is a 49,082-square-foot loft-style apartment building in the Lowertown neighborhood of downtown Saint Paul. Originally built in 1909 and fully renovated in 2019, the property offers one- and two-bedroom floor plans.

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