HOUSTON, TEXAS, October 21, 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 7011 Brittmoore Road, a fully-leased, 16,135-square-foot, multi-tenant, industrial 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 Maria Pappas, associate, had the exclusive listing to market the property on behalf of the seller, a private investor.

“The property was a desirable, value-add opportunity, as the asset generates additional income with a long-term cell phone tower lease. Our team facilitated 19 acceptable offers from both in-state and out-of-state investors,” commented Pappas.

“By conveying the tenant’s disinterest in acquiring the property to the buyer, our team overcame the challenge of a 30-day-right of first refusal allotted to cellular company,” said Abushagur.

7011 Brittmoore Road is located in Houston, Texas.  The subject property is situated on 1 acre of land and was built in 1983.

 

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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.