MARCUS & MILLICHAP ARRANGES THE SALE OF
A 213,630-SQUARE FOOT INDUSTRIAL BUILDING
GRAND PRAIRIE, Texas, December 17, 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 Ashley Furniture (RBLS, INC.), a 213,630-square foot industrial property located in Grand Prairie, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, industrial specialist and first 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 investor, was also procured by Adam Abushagur.
“By running it through our marketing process and leveraging the Marcus & Millichap platform, the seller was able to net over 30 percent more than the off-market offer that was received prior to marketing the property,” said Abushagur. “The property was on the market less than 24 hours and sold above asking price due to the competitive bidding process we constructed,” he added.
Ashley Furniture (RBLS, INC.) is located at 502 Fountain Parkway in Grand Prairie, Texas. The subject property is situated on 11.49 acres of land and was built in 1979 and renovated in 1995.
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About Marcus & Millichap (NYSE: MMI)
With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.