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Marcus & Millichap Arranges Sale of Mixed-Use Property in The Woodlands

03/27/2014

THE WOODLANDS, TX – Marcus & Millichap (NYSE: MMI), a leading real estate investment services firm with offices throughout the United States and Canada, today announced  the sale of 3000 Research Forest, a 28,487 square-foot mixed use property located in The Woodlands, TX, according to David H. Luther, regional manager of the firm’s Houston office. The asset’s list price was $8,450,000.

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, the Marcel Group, a Woodlands-based developer.  The team generated multiple offers and sold the property to a local private investor, who was also secured by Hargrove and Miller. 

3000 Research Forest is located just west of the new Hughes Landing development in The Woodlands, TX. The property features a tenant roster that includes Starbucks, Liberty Mutual, Texas American Title, Abundant Life Chiropractic, and Preferred Bank while being located on 2.71 acres at the hard corner of Research Forest and New Trails Drive.  

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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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03/27/2014 - 11:11

Source

Marcus & Millichap

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