MARCUS & MILLICHAP ARRANGES THE SALE OF A 23,760 SQUARE FOOT RETAIL PROPERTY
HUNTSVILLE, Texas, 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 Huntsville Crossing Shopping Center, a 23,760 square foot retail property located in Huntsville, according to David H. Luther, first vice president/ regional manager of the firm’s Houston office. The asset had list price of $7,567,000.
Glen D. Kunofsky, an executive vice president of investments, and Russell Wachtler, investment specialist, in Marcus & Millichap’s Manhattan office alongside Jerry Goldstein, a senior vice president of investments, in Marcus & Millichap’s Houston office had the exclusive listing to market the property on behalf of the seller, a limited liability company. It was purchased by a California 1031 buyer.
The Center features a prominent tenant line-up consisting of Buffalo Wild Wings, Chipotle, Mattress One and Spec’s Liquor. It is located on the Interstate 45 South Freeway in the midst of a retail cluster that has a new 90,000 square feet Super Kroger, Super Walmart and the 415,000 square feet Target anchored Ravenwood Village Shopping Center that has multiple junior anchors and shop space featuring national/ regional tenants.
Huntsville Crossing Shopping Center is located at 207 Interstate 45 South in Huntsville.
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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