Marcus & Millichap Arranges The Sale Of A 100,984-Square Foot Industrial Building

BINGHAMTON, NEW YORK, August 3, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the deal of L3 Harris, an entirely occupied, 9-year remaining, triple-net lease, 100,984-square foot industrial property located in Binghamton, New York.

Adam Abushagur, senior managing director 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, Spirit Realty Capital, was also procured by Marcus & Millichap.

“Our team facilitated a total of 11 offers, enabling us to assist the seller in sourcing a confident buyer and overcome the challenge of a 60-day right of refusal clause in the tenant’s lease,” commented Abushagur.

L3 Harris is located at 147 Industrial Park Drive in Binghamton, New York. The subject property is situated on 7.30 acres of land, and is leased to L3 Harris, a publicly traded aerospace and defense company with over 50,000 employees and over $18 billion in revenue.

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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: