Marcus & Millichap Arranges The Sale Of A 7,400-Square Foot Industrial Building
MIDLAND, TEXAS, October 14, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Superior Oilfield Solutions, LLC, a 7,400-square-foot industrial property located in Midland, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, senior managing director investments, and Davis Cagle, 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 Cagle.
“The tenant’s short lease-term proved to be a challenge. However, our team responded by marketing the strength of the desirable location and replaceable rental rate of the property,” said Cagle.
“We assisted the seller in liquidating the asset, ultimately allowing each partner to reinvest proceeds individually,” said Abushagur.
Superior Oilfield Solutions, LLC is located at 1010 West County Road 126 in Midland, Texas. The subject property is situated on 3 acres of land and was built in 1993.
# # #
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 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.