Marcus & Millichap Arranges The Sale Of A 13,635-Square Foot Industrial Building
MARCUS & MILLICHAP ARRANGES THE SALE OF
A 13,635-SQUARE FOOT INDUSTRIAL BUILDING
FOREST HILL, Texas, December 30, 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 United Rentals, a 13,635-square foot industrial property located in Forest Hill, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Adam Abushagur, first vice president investments and Cliff Zimmerman, investment specialist 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 Adam Abushagur and Cliff Zimmerman.
“Due to the high price per foot, we crafted a narrative to investors highlighting the strength of tenant, combined with the value-add opportunity of utilizing extra acreage for outside storage” said Zimmerman.
“When the buyers pushed back on the transaction due to roof challenges and lease constraints, we focused our efforts on convincing the right investors of the opportunity and procuring multiple offers in order to obtain the most competitive terms for our seller,” said Abushagur.
United Rentals is located at 6212 Anglin Drive in Forest Hill, Texas. The subject property is situated on 2.16 acres and was built in 1978.
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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.