Press Releases
Marcus & Millichap Arranges $12.3M Sale of 76-Unit Townhome Community in Manitowoc, Wisconsin
March 31, 2026
MANITOWOC, Wis., March 31, 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 Evergreen Townhomes, a 76-unit multifamily property in Manitowoc, Wisconsin. The property sold for $12.3 million, or $161,842 per unit.
“While this transaction was driven by a local investor seeking to expand their presence in the Manitowoc market, Evergreen Townhomes stands out as a high-quality asset with strong appeal to family-oriented renters,” said Dan Bowar, director investments. “With consistently low vacancy, strong renter demand, and ongoing growth in the manufacturing and food processing sectors, we expect sustained interest in both existing multifamily assets and new development across the market.”
Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, marketed the property on behalf of the seller, a Florida-based investor, and procured the buyer, a Wisconsin-based investor.
Evergreen Townhomes is situated on two acres at 4910 Benley Ct. Built in 1999, the property features 76 units across 91,200 rentable square feet.
“While this transaction was driven by a local investor seeking to expand their presence in the Manitowoc market, Evergreen Townhomes stands out as a high-quality asset with strong appeal to family-oriented renters,” said Dan Bowar, director investments. “With consistently low vacancy, strong renter demand, and ongoing growth in the manufacturing and food processing sectors, we expect sustained interest in both existing multifamily assets and new development across the market.”
Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, marketed the property on behalf of the seller, a Florida-based investor, and procured the buyer, a Wisconsin-based investor.
Evergreen Townhomes is situated on two acres at 4910 Benley Ct. Built in 1999, the property features 76 units across 91,200 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.
