MARCUS & MILLICHAP ARRANGES THE SALE OF A 10,000-SQUARE-FOOT NET-LEASED PROPERTY
SANFORD, FLORIDA, November 28, 2016 – 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 Fortiline Waterworks, a 10,000-square-foot, net-leased property located at 2291 West Airport Boulevard in Sanford, Florida, according to Craig R. Swanson, regional manager of the firm’s Austin office. This was a build-to-suit property for Fortiline who has occupied the 5.16-acre lot since 2005.
Fortiline was formed in 1997 to offer contractors and municipalities a better source for their underground supplies. Specifically, they distribute underground utility products for installation in both the public and private sectors. Their customers range from small municipalities to large multi-state corporations. All of their locations are successful and have a positive impact on the geographic areas they serve.
Patrick Doherty, David Houston and Scott Ryan, investment specialists in Marcus & Millichap’s Austin office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured by Patrick Doherty, David Houston and Scott Ryan. Kirk Felici, Broker of Record, assisted in closing this transaction.
Patrick Doherty, David Houston, and Scott Ryan represent landlords nationwide in the sale of single-tenant, net-leased industrial properties. This focus has allowed the team to build a niche in single-tenant, net-leased assets resulting in over 25 successful transactions in seven states, including 10 in Texas.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company 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