Marcus & Millichap Arranges The Sale Of A 27,150-Square Foot Industrial Building
HOUSTON, TEXAS, October 19, 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 4411 Homestead Road, a 27,150-square-foot single-tenant industrial property, leased to Goodyear Tires, located in Houston, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, senior managing director investments, and Max Lozmack, associate, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a repeat local investor, was also procured by Abushagur and Lozmack.
“The seller, a partnership out of Illinois, was referred to the TAG Industrial Houston office by our Chicago office,” continued Lozmack, “we assisted the seller in liquidating the asset, ultimately allowing each partner to reinvest proceeds individually.”
“Our team overcame issue regarding the illegibility of the original lease by facilitating a compromise between buyer and seller on estoppel certificate,” said Abushagur.
4411 Homestead Road is located in Houston, Texas. The subject property is situated on 2 acres of land and was built in 1969.
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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.