MARCUS & MILLICHAP ARRANGES THE SALE OF A 50,937-SQUARE FOOT RETAIL PROPERTY
HOUSTON, 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 Ponderosa Shopping Center, a 50,937-square foot retail property located at the southeast corner of Kuykendahl and Saddlecreek Drive in the “1960 area” of Houston, Texas, according to David H. Luther, first vice president/district manager of the firm’s Houston office. Built in 1983, the property was 61 percent occupied at closing and offered a significant value added opportunity to the buyer. The asset had a list price of $2,840,000.
Jerry Goldstein, a senior managing director investments, in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was secured by Jerry Goldstein.
Ponderosa Shopping Center is located at 16300 Kuykendahl in Houston.
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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