Marcus & Millichap Arranges The Sale Of Brand New Two-Building Portfolio
EDINBURG, TEXAS, August 18, 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 the Goodman Distribution Inc. portfolio, consisting of two industrial properties, a 41,875 square-foot single-tenant warehouse in Edinburg, Texas.
Adam Abushagur, senior managing director investments, and Tyler Sharp, senior associate, 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 Abushagur and Sharp.
“Our team successfully assisted the seller who was seeking an aggressive buyer that would move quickly as these were new build-to-suit assets. We were able to facilitate seven offers, and when the original buyer was unable to close, we were able to engage with an aggressive backup offer quickly,” said Sharp.
“We were able to source an out-of-state buyer who made an all-cash offer, with a quick close of fewer than 25 days,” said Abushagur.
Goodman Distribution Inc. is located at 301 West Owassa Road in Edinburg, Texas, situated on 3.60 acres of land, and 5609 Park PID Road, Corpus Christi, Texas, situated on 2.19 acres of land. The subject properties were constructed in 2021 by a private merchant developer for Goodman Global Inc., one of the largest HVAC manufacturers in the United States.
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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.