Press Releases
Marcus & Millichap Arranges Sale and Financing of Grocery-Anchored Retail Center in Houston
February 12, 2025
HOUSTON, Texas, Feb. 12, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of Beechnut Village, a 62,990-square-foot grocery-anchored retail center in Houston, Texas. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, secured the financing.
“We procured a buyer quickly in the process and delivered a smooth closing despite some market challenges,” said Scott Abeel, associate.
Abeel and Philip Levy, investment specialists in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.
Jamie Safier, managing director in MMCC’s Houston office secured the financing. Terms of the 65% loan-to-value loan include a fixed interest rate at 6.50%.
Beechnut Village, located at 8145 Highway 6 S, is anchored by La Michoacana Meat Market, a top-performing grocer. The property is fully leased with triple-net leases and 15 tenants, including medical offices, discount retailers, and food and beverage businesses. Situated at the signalized intersection of Highway 6 and Beechnut Street, the center benefits from high traffic, with more than 78,630 vehicles passing daily.
“We procured a buyer quickly in the process and delivered a smooth closing despite some market challenges,” said Scott Abeel, associate.
Abeel and Philip Levy, investment specialists in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.
Jamie Safier, managing director in MMCC’s Houston office secured the financing. Terms of the 65% loan-to-value loan include a fixed interest rate at 6.50%.
Beechnut Village, located at 8145 Highway 6 S, is anchored by La Michoacana Meat Market, a top-performing grocer. The property is fully leased with triple-net leases and 15 tenants, including medical offices, discount retailers, and food and beverage businesses. Situated at the signalized intersection of Highway 6 and Beechnut Street, the center benefits from high traffic, with more than 78,630 vehicles passing daily.
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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.
