Marcus & Millichap Announces the Sale of Pet Paradise, a 19,529-SF Net-Leased Property in Georgetown, Texas

GEORGETOWN, Texas, June 27, 2024 – 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 Pet Paradise, a 19,529-square foot net-leased property located in Georgetown, Texas. The asset sold for an undisclosed amount.

“We had the pleasure of working with the buyer and seller in this transaction to structure a mutually beneficial deal,” says Zack House, investment specialist in Marcus & Millichap’s Phoenix office. House, Chris Lind and Mark Ruble, investment specialists in the firm’s Phoenix office had the exclusive listing to market the property on behalf of the seller, a partnership. Tim Speck, broker of record, assisted in closing this transaction that includes 18 years remaining on an absolute triple-net (NNN) lease with annual rent increases.

Built in 2020, Pet Paradise is located at 716 Interstate-35 in Georgetown, Texas. “Pet Paradise is a growing brand in the pet health and boarding sector,” House states. The asset features a fenced turf yard, indoor pool, on-site veterinary care, grooming facility and climate-controlled indoor and outdoor sites. The surrounding area boasts an average household income that exceeds $123,000 within five miles. The property is situated immediately off the Interstate-35 freeway that hosts approximately 97,700 cars travelling across per day. The interstate also provides a direct route 28 miles south to downtown Austin, Texas. The asset is adjacent to The Summit at Rivery Park, Texas’ first high-end, mixed-use development, anchored by the Four-Star Sheraton Austin Georgetown Hotel and Conference Center. Georgetown is the fastest growing city in the United States among cities with 50,000+ residents, according to U.S. Census Data.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.