Marcus & Millichap Arranges The Sale Of A 10,070-Square Foot Industrial Building

Marcus & Millichap Arranges The Sale Of A 10,070-Square Foot Industrial Building

PEARLAND, Texas, April 8, 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 8611 Industrial Drive, a 10,070-square foot industrial property located in Pearland, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.

Adam Abushagur, senior managing director investments and Max Lozmack, associate, had the exclusive listing to market the property on behalf of the seller a private investor.

“We successfully sourced competition in the market after accurately pricing the asset and creating a smooth transaction in a quick timeframe,” said Lozmack.

“Despite the pandemic and the struggling oil and gas market, we were able to sell $50,000 above asking price to an all-cash buyer,” said Abushagur.

8611 Industrial Drive is situated on 2.54 acres of land and was built in 1982.

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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.