MARCUS & MILLICHAP ARRANGES THE SALE OF
A 24,464-SQUARE FOOT INDUSTRIAL BUILDING
PLANO, TX, August 20, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of 1304 Summit Avenue, a 24,464-square foot industrial property located in Plano, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, industrial specialist and first 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 procured by Abushagur.
“It was a unique opportunity within Plano, given the outside storage component,” said Abushagur. “The multiple offers procured helped hedge against any re-trades in price given the deferred maintenance identified during escrow,” he said.
The subject property is situated on 2.34 acres and was built in 1981.
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