Marcus & Millichap Arranges The Sale Of A 66,000-Square-Foot Industrial Building
DALLAS, December 15, 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 10031 Monroe Drive, a fully leased, 66,000-square-foot, shallow bay flex property located in Dallas, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.
The buyer, an out-of-state, private investment group, was procured by Adam Abushagur, senior managing director investments, and Tyler Ranft, associate.
“The asset’s front-loaded long-term lease with a cell tower tenant proved challenging. However, we successfully assisted our client with expanding its DFW portfolio of shallow bay properties,” said Ranft.
“It was a pleasure working with both parties as the seller is a previous TAG client seeking to liquidate this asset to finance DFW retail development,” said Abushagur.
10031 Monroe Drive is located in Dallas, Texas.
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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.