Marcus & Millichap Arranges the Sale of a Heights Area Retail Landmark
HOUSTON, TEXAS, Feb. 9, 2015– 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 a 6,125 square foot retail property anchored by the Texas Cafeteria for the past 50 years. The propert is located in Houston's Heights District, according to David H. Luther, vice president/regional manager of Marcus & Millichap’s Houston office. The iconic retail center commanded multiple offers from developers familiar with this North Shepherd Drive retail site. The asset had a list price of $1,875,000.
Alex Bouchard, an associate and Gus Lagos, a senior associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.
Shepherd and 24th Street Strip Center is located at 2400 North Shepherd Drive in Houston.
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About Marcus & Millichap (NYSE: MMI)
With over 1,400 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