Marcus & Millichap ARRANGES THE SALE OF
a 42,075-SQUARE FOOT INDUSTRIAL BUILDING
IRVING, TX, January 29, 2019 – 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 Peppertree Square, a 42,075-square foot industrial property located in Irving, Texas, according to Tim A. Speck, regional 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 diverse tenant base of the property and staggered rent roll with increases made the asset appealing to investors, in addition to the 10 percent cash-on-cash return,” said Abushagur.
Peppertree Square is located at 500 South Belt Line Road in Irving, Texas. The subject flex property is situated on 2.5 acres of land and was built in 1981.
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