Marcus & Millichap Arranges The Sale Of A 12,960-Square-Foot Industrial Building
CHESTERTON, IN, May 12, 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 SEI Solutions, a single-tenant, 12,960-square-foot industrial property located in Chesterton, Indiana, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, senior managing director investments, Tyler Sharp, senior associate, and Clay Isacson, associate, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a local private investor, was also procured by Abushagur, Sharp, and Isacson.
“Within ten days of marketing, the property generated seven total offers and sold at the full asking price,” commented Isacson, “The asset was acquired as a five-year leaseback with 2 percent annual rent escalations.”
“This deal came as a benefit to both buyer and seller. The seller achieved the goal of unlocking equity to facilitate estate planning, while the investor can benefit from the property’s heavy industrial zoning,” said Abushagur.
SEI Solutions is located at 284 West 1050 North in Chesterton, Indiana. The subject property is situated on 4.05 acres of land and was built in 1994.
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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.