MARCUS & MILLICHAP ARRANGES THE SALE OF
A 56,800-SQUARE FOOT INDUSTRIAL BUILDING

 

EL PASO, TX, February 19, 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 AGE Industries, Inc., a 56,800-square foot industrial property located in El Paso, 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.

“We had to undergo a re-zoning hearing for a tenant in-tow that was procured by the buyer,” said Abushagur. “However, we experienced no retrade concessions, due to procuring multiple offers and creating a competitive advantage for the seller,” he said.

AGE Industries, Inc. is located at 491 South Darrington Road in El Paso, Texas.  The subject property is situated on three acres of land and was built in 1990.

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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.