MARCUS & MILLICHAP ARRANGES THE SALE OF A 16,690-SQUARE-FOOT, NET-LEASED PROPERTY
JACKSON, MISSISSIPPI, April 25, 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 DriveTime Automotive, a 16,690-square-foot, net-leased property located at 5326 and 5350 Interstate 55 in Jackson, Mississippi, according to Craig R. Swanson, regional manager of the firm’s Austin office.
Bruce Bentley III and Douglas Diffie, 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 Mr. Bentley and Mr. Diffie. Anne Williams, Principal Broker for Mississippi, assisted in sale and closing of this transaction.
DriveTime Automotive opened for business at this site along Interstate 55 in 2011. Traffic counts in front of the property run in excess of 115,000 vehicles per day.
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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