HOUSTON, TX May 2, 2022 – 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 16840 Clay Road, a fully occupied, multi-tenant, 40,219-square-foot industrial flex property located in Houston, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.

Adam Abushagur, senior managing director investments, and Max Lozmack, associate, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a repeat private investor, was also procured by Abushagur and Lozmack.

“This Houston flex asset was acquired above the target price by a repeat TAG investor seeking a value-add opportunity with high returns,” said Lozmack.

“It was a pleasure assisting the seller in liquidating the asset to utilize proceeds to finance retirement,” said Abushagur.

16840 Clay Road is located in Houston, 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.