MARCUS & MILLICHAP ARRANGES THE SALE OF
A 62,500-SQUARE FOOT INDUSTRIAL BUILDING
GARLAND, Texas, March 18, 2020 – 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 Anchor Fabrication, three industrial properties totaling 53,254-square feet located in Garland, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Adam Abushagur, senior vice president investments and Sam Martin, 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 Martin.
“We had prepared a pricing analysis for the seller prior to them receiving an off-market offer,” said Martin. “When the off-market deal fell through, the seller ultimately moved forward with us and secured a buyer we were confident would close,” she said.
“We conveyed the value-add opportunity for the buyer to re-tenant each of the buildings at market rents and sell separately,” said Abushagur.
Anchor Fabrication is located at 3841 Cavalier Drive, 3851 Cavalier Drive, and 3903 Cavalier Drive in Garland, Texas. The subject buildings are situated on a combined 2.72 acres and were built from 1969-1991.
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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.