Marcus & Millichap Arranges The Sale Of A 29,676-Square Foot Industrial Building
Marcus & Millichap Arranges The Sale Of A 29,676-Square Foot Industrial Building
FARMERS BRANCH, TX, July 5, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of MediaTech, a 29,676-square foot industrial property located in Farmers Branch, TX, according to Timothy A. Speck, regional manager of the firm’s Dallas office.
Adam Abushagur, an industrial investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor.
“This proved to be a tougher transaction due to the business dynamic of the tenant, being a for-profit school,” said Abushagur. “We were able to secure a 1031-exchange buyer who was comfortable assuming the risk, given the substantial tax savings they were able to solidify through this 1031 acquisition,” he added.
MediaTech is located at 13300 Branch View Lane in Farmers Branch, Texas. The subject property is situated on 2.25 acres of land and was built in 1972.
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