Marcus & Millichap Arranges the Sale of a 311,000-Square Foot Industrial Building

 

FORNEY, Texas, June 28, 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 Forney Industrial Park, a 311,000-square foot industrial property located in Forney, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.

Adam Abushagur, an investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a partnership.  The buyer, a partnership, was also secured and represented by Abushagur.

“Our team was able to help the sellers transact on a portfolio of buildings they have owned and managed for 20 years. That brought challenges, given the sellers operated the facilities with a very hands-off approach with limited due diligence, financials, and fairly open ended lease agreements. The buyer we secured for the transaction was looking for a value-add opportunity in a growing market, which Forney Industrial Park checked the box for,” commented Abushagur.

Forney Industrial Park is located at W US Hwy 80 in Forney, Texas. The subject property is a 311,000 square-foot multi-tenant industrial park that offers a unique buying opportunity in a very tough barrier to entry ownership market.

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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.