Marcus & Millichap Arranges The Sale Of A 69,750-Square Foot Industrial Building
Marcus & Millichap Arranges The Sale Of A 69,750-Square Foot Industrial Building
HUTCHINS, TX, July 5, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Bocks Board Packaging, a 69,750-square foot industrial property located in Hutchins, TX, according to Timothy A. Speck, regional manager of the firm’s Dallas office.
Adam Abushagur, an industrial investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, an owner/user occupant of the property. The buyer, a limited liability company, was also procured by Adam Abushagur.
“The seller initially was hesitant to do a sale leaseback, due to tax implications that would be triggered through a sale of the facility. However, the Tax Cuts and Jobs Act of 2017 implemented by the current administration provided the seller relief that it now made sense to move forward with the sale leaseback transaction,” said Abushagur. “Six offers were received within one week of the marketing campaign, which allowed us to negotiate aggressive terms for the seller,” he added.
Bocks Board Packaging is located at 1520 E Wintergreen Road in Hutchins, TX. Proximate to Interstate 45 and 20, this gives the facility easy accessibility throughout the Dallas/Fort Worth metroplex.
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