Press Releases
Marcus & Millichap Facilitates $18.25 Million Sale of South Georgia Apartment Community at Record Per-Unit Price
April 07, 2025
VALDOSTA, Ga., April 7, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 805 Harmon Heights Apartments & Condos, a 100-unit multifamily community in Valdosta, Georgia. The asset sold for $18,250,000.
“This was a tremendous opportunity,” said John E. Brigel, senior vice president investments in Marcus & Millichap’s Tampa office. “In more than 20 years in the business, I’ve rarely seen an asset with such exceptional historical and current operating metrics. Bobby Diaz, the builder and operator, developed an outstanding property and management team that excelled across the board. The buyer, from Tennessee, had previously purchased a nearby property through me and recognized the unique quality of this asset. He acted quickly, paying the full list price of $182,500 per unit—a record-setting figure for South Georgia.”
Brigel exclusively marketed the property on behalf of the seller, Bobby Diaz, builder and operator of Diaz Construction, LLC, and procured the buyer from Tennessee. John Leonard is Marcus & Millichap’s broker of record in Georgia.
Located at 805 Harmon Drive, the 113,600-square-foot property is a recently upgraded apartment community with one-, two- and three-bedroom units across nine buildings. Built in phases from 2009 to 2021, the property has undergone extensive renovations, including new cabinetry, countertops, stainless steel appliances, modernized flooring and enhanced security. It is near major employers, including South Georgia Medical Center, Moody Air Force Base and Valdosta State University.
“This was a tremendous opportunity,” said John E. Brigel, senior vice president investments in Marcus & Millichap’s Tampa office. “In more than 20 years in the business, I’ve rarely seen an asset with such exceptional historical and current operating metrics. Bobby Diaz, the builder and operator, developed an outstanding property and management team that excelled across the board. The buyer, from Tennessee, had previously purchased a nearby property through me and recognized the unique quality of this asset. He acted quickly, paying the full list price of $182,500 per unit—a record-setting figure for South Georgia.”
Brigel exclusively marketed the property on behalf of the seller, Bobby Diaz, builder and operator of Diaz Construction, LLC, and procured the buyer from Tennessee. John Leonard is Marcus & Millichap’s broker of record in Georgia.
Located at 805 Harmon Drive, the 113,600-square-foot property is a recently upgraded apartment community with one-, two- and three-bedroom units across nine buildings. Built in phases from 2009 to 2021, the property has undergone extensive renovations, including new cabinetry, countertops, stainless steel appliances, modernized flooring and enhanced security. It is near major employers, including South Georgia Medical Center, Moody Air Force Base and Valdosta State University.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
