Marcus & Millichap Arranges The Sale Of A 14,250-Square Foot Industrial Building

 

EL PASO, TX, February 9, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 11512 Confederate Drive, a 14,250-square foot industrial property located in El Paso, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.

Adam Abushagur, senior managing director investments and Davis Cagle, associate, 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 and Cagle.

“The property was previously listed for six months with another broker and received no acceptable offers,” said Cagle. “We were able to procure two full-price offers, sell at asking price, and close in 15 days.”

“This deal is evidence to the fact that smaller owner-users are still looking to expand in areas outside of major industrial hubs,” said Abushagur.

11512 Confederate Drive is situated on 1.39 acres of land and was built in 1986 and renovated in 1994.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.