MARCUS & MILLICHAP ARRANGES THE SALE OF A 15,875-SQUARE FOOT INDUSTRIAL PROPERTY
GARLAND, Texas, March 1, 2017 – 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 Preload Inc., a 15,875-square foot industrial property located in Garland, Texas, according to Tim A. Speck, regional manager of the firm’s Dallas office. The terms of the sale were not released.
Adam Abushagur, an associate in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. Abushagur also procured the buyer, a local private investor.
“The sale of the Preload asset signifies the growing demand for occupied, renovated industrial properties in the Garland area,” states Abushagur. “Several of the distressed, 1960s built properties have traded in recent months and due to recent renovations, this particular asset traded at one of the highest price per square foot along Industrial Lane.”
Preload Inc. is located at 2613 Industrial Lane in Garland, Texas, just minutes for Interstate 635. Built in 1967 and renovated in 2016, the asset is situated on approximately one acre of land. The national tenant, Preload Inc., has been in operation for more than 86 year and has five locations across the country. Preload Inc. is considered the pioneers of prestressed concrete tank design and has clients throughout most of the 50 states. The Garland branch is the only location in the southwest region and has recently executed a new lease.