MARCUS & MILLICHAP ARRANGES THE SALE OF
A 62,500-SQUARE FOOT INDUSTRIAL BUILDING
ENNIS, Texas, February 27, 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 Party Supplies Group, a 62,500-square foot industrial property located in Ennis, 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 proactively found the out-of-state buyer who had been targeting similar value-add investments previously sold in tertiary markets,” said Zimmerman. “We proposed seller financing to create a win-win for both parties,” he said.
“We were able to assist the buyer in diversifying their portfolio with the industrial product type,” said Abushagur.
Party Supplies Group is located at 2407 North Preston Street in Ennis, Texas. The subject property is situated on 2.13 acres and was built in 1962.
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.