MARCUS & MILLICHAP CLOSES ABOVE ASKING PRICE ON
A 4,270-SQUARE FOOT INDUSTRIAL BUILDING
FARMERS BRANCH, 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 2415 Fruitland Avenue, a 4,270-square foot industrial property located in Farmers Branch, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Adam Abushagur, first vice president investments and Sam Martin, associate, had the exclusive listing to market the property on behalf of the seller, a private investor.
“We were able to overcome city code parking regulation challenges by negotiating the sale of the adjacent lot, in addition to the building originally listed. We closed at above asking price three weeks earlier than scheduled after quickly finding a creative solution to meet both parties’ needs,” said Martin.
“The property was previously marketed for sale by owner, when they later engaged our team in order to expose the property to a larger regional and national buyer pool,” said Abushagur.
The subject property is situated on 0.24 acres and was built in 1986. It features five office spaces, a reception room, a break room, three bathrooms, and a large warehouse/storage area. The property also has two air conditioning units, gas heating, and four security video cameras as well as a new 30-year warranty roof and repaired foundation and plumbing.
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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.