Marcus & Millichap Arranges the Sale of a 58,418-Square Foot Industrial Building
BROWNSVILLE, Texas, June 16, 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 Martex Fiber, a 12-year, triple-net lease, 58,418-square foot industrial property located in Brownsville, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Adam Abushagur and Tyler Sharp, investment specialists 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 secured and represented by Abushagur and Sharp.
“TAG Industrial was able to partner with the seller to help extract equity in this asset. We were able to generate multiple acceptable offers through our marketing campaign, and close with a buyer located in California. The equity was used for a larger project the seller is working on. The buyer was able to acquire their first industrial asset and grow their portfolio in the Texas market. The national, regional, and local platform of Marcus & Millichap benefited both the seller and the buyer,” commented Sharp, “We enjoyed working with both the seller and the buyer assisting them to achieve their goals regarding this property”.
Martex Fiber is located at 4656 Towerwood Drive in Brownsville, Texas. The subject property consists of approximately 58,418 square feet of space situated on 5.34 acres. The asset features excess land for further development and outside storage.
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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 8,954 transactions in 2020 with a value of approximately $43 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.