Marcus & Millichap Arranges The Sale Of A 196,537-Square Foot Industrial Portfolio
Marcus & Millichap Arranges The Sale Of A 196,537-Square Foot Industrial Portfolio
IRVING, TX, September 11, 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 the Shawnee Capital Trust Portfolio, a 195,537-square foot industrial portfolio in Irving, Dallas, and Haltom City, Texas, according to Timothy A. Speck, regional manager of the firm’s Dallas office.
Adam Abushagur, industrial specialist and vice president investments in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured by Adam Abushagur.
“We had fostered a two-year relationship with the seller, executing a plan to get the properties to a condition where they would yield a price the seller deemed acceptable,” said Abushagur. “The buyer, historically an apartment investor, was looking to diversify with a different property type that had similar management style, given the saturated apartment market. We were able to secure a total of nine offers throughout our marketing process,” he added.
Shawnee Capital Trust Portfolio is located at 1120 Luke Street in Irving, Texas; 2526 Manana Drive in Dallas; Texas, and 1655 Hickory Drive in Haltom City, Texas. The subject properties are situated on a combined 11.47 acres of land and were built between 1975 and 1985.
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