Marcus & Millichap Arranges The Sale Of A 26,894-Square Foot Industrial Building
MARCUS & MILLICHAP ARRANGES THE SALE OF
A 26,894-SQUARE FOOT INDUSTRIAL BUILDING
St. Louis, December 17, 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 ICL North America, Inc., a 26,894-square foot industrial property located in St. Louis, Missouri, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, first vice president investments and Tyler Sharp, associate, 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 and Tyler Sharp.
“We designed a marketing campaign and executed using the Marcus & Millichap platform. As a result, we were able to secure a South Carolina buyer and closed two weeks prior to the original closing date,” said Sharp.
“The asset sold at a high price per foot and a long lease with a publicly traded tenant in place, which helped the buyer’s basis risks, given the strong tenant,” said Abushagur.
ICL North America, Inc. is located at 373 Marshall Avenue in St. Louis, Missouri. The subject property is situated on 3.93 acres of land and was built in 2005 and expanded in 2016.
# # #
About Marcus & Millichap (NYSE: MMI)
With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.