Marcus & Millichap ARRANGES THE SALE OF
a 145,375-square foot industrial building
ROCKWALL, TX, August 7, 2019 – 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 Col-Met Engineered Finishing Solutions, a 145,375-square foot industrial property located in Rockwall, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, industrial specialist and first vice president in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, an institutional investor, was also procured by Abushagur.
“We received multiple competing offers through a best and final round of marketing due to the extremely low vacancy in the Rockwall submarket,” said Abushagur. “The sale leaseback allowed the seller to grow and increase their return on equity within the business operation,” he said.
Col-Met Engineered Finishing Solutions is located at 2975 Discovery Blvd in Rockwall, Texas. The subject property is situated on 12 acres of land was built in 2015.
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