Press Releases
Marcus & Millichap Arranges Sale of 91-Unit Multifamily Property in Sault Ste. Marie, Michigan
March 03, 2026
SAULT STE. MARIE, Mich., March 3, 2026 – 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 Ashmun Creek Apartments, a 91-unit multifamily property in Sault Ste. Marie, Michigan.
“Ashmun Creek was originally built by the seller and has been meticulously maintained over the years, resulting in a stable tenant base with many long-term residents,” said Dan Bowar, associate director investments. “The property’s strong occupancy and consistent performance reflect the broader dynamics in Sault Ste. Marie, which has some of the tightest vacancy rates in the country. Limited inventory and economic drivers such as the Soo Locks continue to support steady rent growth and high demand.”
Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, Ashmun Creek Apartments LLC, and procured the buyer, a Wisconsin-based investor.
Ashmun Creek Apartments is situated on 1.61 acres at 2410 W. 7th St., just off Interstate 75 and within six minutes of Lake Superior State University. Built in 1995, the property features a mix of studio, one-, two- and three-bedroom units across 108,015 rentable square feet.
“Ashmun Creek was originally built by the seller and has been meticulously maintained over the years, resulting in a stable tenant base with many long-term residents,” said Dan Bowar, associate director investments. “The property’s strong occupancy and consistent performance reflect the broader dynamics in Sault Ste. Marie, which has some of the tightest vacancy rates in the country. Limited inventory and economic drivers such as the Soo Locks continue to support steady rent growth and high demand.”
Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, Ashmun Creek Apartments LLC, and procured the buyer, a Wisconsin-based investor.
Ashmun Creek Apartments is situated on 1.61 acres at 2410 W. 7th St., just off Interstate 75 and within six minutes of Lake Superior State University. Built in 1995, the property features a mix of studio, one-, two- and three-bedroom units across 108,015 rentable square feet.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
