Marcus & Millichap Arranges Sale of Inner-Loop Houston Shopping Center
HOUSTON, TX May 14, 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 TitleMax | Cindie's - NNN, a 4,854-square-foot shopping center in the inner loop of Houston, according to David H. Luther, Vice President/Regional Manager of Marcus & Millichap’s Houston office. The asset had a list price of $1,540,000.
Justin Miller and Derek Hargrove, investment specialists in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, an affiliate of Braun Enterprises. The team generated 14 offers in less than a two week period, before selling the asset to an all cash local private buyer who closed in just 10 days.
TitleMax | Cindie's - NNN is located at 3507 South Shepherd Drive in Houston, TX. The property attracted significant interest due to its inner loop Montrose location, appealing price point and corporate tenant mix.
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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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