Hessam Nadji

Taking advantage of cutting-edge technology is just another day at the office for Marcus & Millichap. 

The Calabasas, Calif.-based brokerage services firm that Hessam Nadji leads celebrated its 52nd year in 2023 with partnerships with proptech companies. 

Archer, an artificial intelligence-propelled tool to quickly aggregate property financials and other data, aims to help make market analysis, deal sourcing and the underwriting process more efficient. EquityMultiple, a New York-based crowdfunding platform for financing and investment, connects people to private capital. 

Marcus & Millichap said it invests in proptech ventures such as EquityMultiple and Archer because the brokerage believes such technology will help transform the industry — and support the company’s clients and core business. 

Business that’s still booming. Even as Marcus & Millichap joins its peers in navigating recent challenges like higher costs and less tenant and investment demand, divisions such as Institutional Property Advisors are busy closing dozens of sales, including a $112 million, 360-unit multifamily in Gilbert, Ariz., and a $171.25 million, two-property, 399-unit multifamily in Thousand Oaks, Calif. 

One of the largest brokerages in the country, Marcus & Millichap was the 2023 leader by transaction count: 30 brokerage deals closed every business day, resulting in nearly $44 billion in volume across property types. More on the numbers? Marcus & Millichap closed 1,076 financing transactions and 7,546 sales, totaling $6.73 billion. 

And, as the only national brokerage firm whose main focus is the private client market, Marcus & Millichap says it’s responsible for some 80 percent of U.S. commercial property sales. (That’s eight in 10!)

Deals are not the only important business. The firm’s research department puts out reports on market conditions and multiple property types in the U.S. and Canada. 

All that and a debt-free balance sheet, too, including over $400 million in cash and marketable securities. Strategic growth is on the agenda.