MARCUS & MILLICHAP ARRANGES THE SALE OF A 12,000-SQUARE-FOOT NET-LEASED PROPERTY
GREER, S.C., September 11, 2017 – 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 Herc Rentals, a 12,000-square-foot net-leased property located at 302 East Frontage Road in Greer, South Carolina, according to Craig R. Swanson, regional manager of the firm’s Austin office.
Built in 1978 on 3.98 acres, Herc Rentals is located on the southeast corner of the intersection of Interstate 85 and Highway 14.
Herc Rentals Inc. is a premier, full-service equipment rental firm. With more than 50 years of equipment rental expertise, approximately 4,800 employees and approximately 275 company-operated locations primarily in the United States and Canada, Herc Rentals serves a broad range of customer markets, including large and small companies in construction; industrial customers such as large industrial manufacturing plants, refineries and petrochemical operations; and other customers such as governmental entities and government contractors, disaster recovery and remediation firms, infrastructure, railroads, utility operators, individual homeowners, entertainment production companies, agricultural producers, special event management and facility management firms.
Patrick Doherty, David Houston and Scott A. Ryan, investment specialists in Marcus & Millichap’s Austin office, in conjunction with Drew Babcock, the designated South Carolina broker of record, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was also secured by Mr. Doherty, Mr. Houston and Mr. Ryan. Hank Crane, senior director in Marcus & Millichap Capital Corporation’s Austin office, originated the loan.
Patrick Doherty, David Houston, and Scott A. 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 37 successful transactions in 13 states since 2014.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 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 9,000 transactions in 2016 with a value of approximately $42.3 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