MARCUS & MILLICHAP ARRANGES THE SALE OF
A 49,100-SQUARE FOOT INDUSTRIAL BUILDING
HOUSTON, 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 Centralcrest Investment Portfolio, a 49,100-square foot industrial property located in Houston, Texas, according to Tim A. Speck, division manager of the firm’s Texas offices.
Adam Abushagur, first vice president investments, and Cary Latham, associate, had the exclusive listing to market the property on behalf of the seller, a private investor.
“Due to the unique nature of this opportunity, we designed a marketing course in which the property transacted with a full-price backup offer for the entirety of the time it was under contract,” said Latham.
Centralcrest Investment Portfolio is located at 5805 Centralcrest Street, 5902 Centralcrest Street, 5922 Centralcrest Street, and 5921 Centralcrest Street in Houston, Texas. The subject portfolio consists of five buildings that were built from 1955-2001.
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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.