LEWISVILLE, TEXAS, August 4, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced the sale of Andes Coil Processors, a three-building, 110,400-square foot industrial property located in Lewisville, Texas.

Adam Abushagur, senior managing director of 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, a private investor, was also procured by Mr. Abushagur.

“Our team was able to articulate the value of the property and overcome the challenge of listing the property at a low cap rate by spotlighting below market rent opportunities. As a result, we closed with a repeat local investor by providing the subject property as a 1031-tax deferred exchange. Equity extracted from this asset aided the seller in financing retirement goals,” said Abushagur.

Andes Coil Processors is located at 202 S Railroad St in Lewisville, Texas. The subject property is a 110,4000 square foot warehouse complex situated on 7.62 acres of land

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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.