MARCUS & MILLICHAP ARRANGES THE SALE OF
A 10,000-SQUARE FOOT INDUSTRIAL BUILDING

 

HOUSTON, Texas, January 23, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Novozymes BioAg Inc, a 10,000-square foot research and development property located in Houston, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.

Adam Abushagur, first vice president investments and Cary Latham, associate, had the exclusive listing to market the property on behalf of the seller, a private investor.

“We were able to generate a total of five acceptable offers procured through our national and local marketing platform for a 45-day total escrow period,” said Latham. “The Cutten Road/Highway 249 corridor has come to life in recent years, and this transaction is another example of increased investor demand for high-quality assets in the area,” he said.

“Most importantly, we provided an exit strategy for the seller and assisted an owner-user purchaser in obtaining their property requirements,” said Abushagur.

Novozymes BioAg Inc is located at 12320 Cutten Road in Houston, Texas.  The subject property is situated on 1.5 acres of land and was built in 2011.

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About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.