MARCUS & MILLICHAP ARRANGES THE SALE OF A 2,000-SQUARE FOOT NET-LEASED PROPERTY
MCALLEN, Texas, October 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 Starbucks, a 2,000-square foot net-leased property located in McAllen, Texas, according to David H. Luther, first vice president/district manager of the firm’s Houston office. The asset had a listing price of $1,990,000.
James H. Bell, first vice president investments Marcus & Millichap’s Houston office, and John Glass, executive managing director investments in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, an individual/personal trust, was secured and represented by Joseph Lising, first vice president investments in Marcus & Millichap’s Newport Beach office.
Starbucks is located at 3904 North McColl Road in McAllen, Texas.
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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