MARCUS & MILLICHAP ARRANGES THE SALE OF
A 17,650-SQUARE FOOT INDUSTRIAL BUILDING
DALLAS, TX, May 25, 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 City Wide Building Services, a 17,650-square foot industrial property located in Dallas, TX, according to Timothy A. Speck, district manager of the firm’s Dallas office.
“The seller had previously sold the business that occupies the property in 2014 and amortized some of the business note into the lease payment,” said Adam Abushagur, an investment specialist in Marcus & Millichap’s Dallas office. “While this made the rent above market average and presented a challenge of finding a buyer, we were able to align the interests of all parties involved to facilitate a win, win, win situation.”
Abushagur had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a California limited liability company, was also secured by Abushagur. “The transaction reinforces the trend that out-of-state capital continues to seek shelter in Texas,” said Abushagur.
City Wide Building Services is located at 425 W. Mockingbird Ln. in Dallas, TX. The property consists of two buildings built in 1983 and situated on 0.89 acres of land. The two buildings feature three total docks and seven bays for service vehicles.