PECOS, Texas, June 16, 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 Crossfire, LLC, a 8,727-square foot industrial property located in Pecos, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.

Adam Abushagur and Davis Cagle, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by Abushagur and Cagle.

“Our team facilitated five total offers on the property in the middle of an oil and gas downturn. We were able to articulate the value of the property and overcome the short lease term  by highlighting the strength of the tenant and location of the property, and closed with a repeat buyer due to high probability of closing and an all cash offer,” commented Cagle, “Due to our team’s platform, we were able to finalize this deal with a 30 day due diligence period with non-refundable money day one, contingent on deliverable title, clean Phase 1, building inspection and tenant estoppel”.

Crossfire, LLC is located at 7 US Hwy 285 in Pecos, Texas.  The subject property consists of approximately 8,727 square feet of space and is situated on 20.7 acres of land.

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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.