MARCUS & MILLICHAP ARRANGES THE SALE OF A 12,333-SQUARE-FOOT NET-LEASED PROPERTY
KNOXVILLE, TENNESSEE, March 15, 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 Sunbelt Rentals, a 12,333-square-foot, net-leased property located in Knoxville, Tennessee, according to Craig R. Swanson, regional manager of the firm’s Austin office. Originally renovated for Sunbelt Rentals in 2006, the facility is located at 5011 South Middlebrook Pike, Knoxville, Tennessee. The property contains four acres, located off of Interstate 40 on South Middlebrook Pike.
Sunbelt Rentals is one of the largest equipment rental companies in North America with over 550 locations. Sunbelt’s extensive fleet exceeds $5.0 billion and includes general construction equipment, industrial tools, pumps and power generation, and more.
David Houston, Patrick Doherty and Scott A. Ryan, investment specialists in Marcus & Millichap’s Austin office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, an individual/personal trust, was also secured by David Houston, Patrick Doherty and Scott A. Ryan. Jody McKibben acted as the broker-of-record in closing this transaction.
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 over 30 successful transactions in 12 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 nearly 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