Marcus & Millichap Arranges Sale of 55,521SF Business Park in Houston
HOUSTON, TX, April 12, 2014– 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 Arbor Square, a 55,521-square-foot business park in Houston, TX, according to David H. Luther, Vice President/Regional Manager of Marcus & Millichap’s Houston office. The asset had an undisclosed list price and generated interest from both local and out of state investors.
Justin Miller, a Senior Associatein Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a Houston based partnership. The buyer, a private 1031 investor, was secured and represented by Derek Hargrove, a Senior Associate in Marcus & Millichap’s Houston office.
Arbor Square is located at 17000 El Camino Real in Houston, TX on a large 3.61 acre corner parcel across from the HEB grocery store at Bay Area Boulevard and El Camino Real.
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About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment 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 6,600 transactions in 2013 with a value of approximately $24 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
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