MARCUS & MILLICHAP ARRANGES THE SALE OF
A 28,339-SQUARE FOOT INDUSTRIAL BUILDING

 

IRVING, Texas, January 7, 2020 – 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 Walnut Hill Business Park II, a 28,339-square foot industrial property located in Irving, 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.

“The property was previously marketed for six months with no results,” said Abushagur.  “We were able to generate three acceptable LOI’s from a broker and two principles within two weeks of marketing the asset, who all said they had not been exposed to the property previously. We pride ourselves in our execution; we simply stuck to the basics yielding results through calling other owners in the submarket, exposing it to other brokers, and ultimately cooperating with other brokers. This yielded a result the seller had in mind,” he said.

Walnut Hill Business Park II is located at 1600 Corporate Court in Irving, Texas.  The subject property is situated on two acres of land and was built in 1982.

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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.