Marcus & Millichap ARRANGES THE SALE OF
a 112,102-SQUARE FOOT INDUSTRIAL BUILDING
GARLAND, TX, September 11, 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 COL-MET, a 112,102-square foot industrial property located in Garland, Texas, according to Timothy A. Speck, regional manager of the firm’s Dallas office.
Adam Abushagur, industrial specialist and vice president investments 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 local investor, was also secured by Adam Abushagur.
“The seller needed to move quickly in order to secure an upleg property in another market. The speed with which we procured the buyer allowed us to structure a 1031-exchange for the client, creating a win-win for both parties involved,” said Abushagur. “The sale-leaseback yielded tremendous activity. Given the limited supply of advantageous industrial inventory available, a buyer was secured within 48 hours of listing the asset,” he added.
COL-MET is located at 3333 Miller Park South in Garland, Texas. The subject property is situated on 6.36 acres of land and was built in 1997.
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