ARLINGTON, Texas, June 24, 2020 – 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 Crowley Business Park, a 18,400-square foot industrial property located in Arlington, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Adam Abushagur, senior vice president investments and Cliff Zimmerman, associate, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also procured by Abushagur and Zimmerman.
“We were able to secure a 42-day escrow period and a non-refundable deposit for the seller, a private investor,” said Zimmerman. “We were able to gain commitment from the buyer day one by removing all contingencies aside from a clean Phase 1 environmental assessment,” he said.
“We overcame difficulty gaining access to the building during the pandemic by implementing safety measures with 3rd party vendors and ensured all appointments and inspections were completed on schedule, allowing for an on-time close,” said Abushagur.
Crowley Business Park is located at 323 Crowley Road in Arlington, Texas. The subject property is situated on 0.89 acres of land and was built in 1980.
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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 9,726 transactions in 2019 with a value of approximately $50 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.