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Marcus & Millichap Arranges Shopping Center Sale 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 Marcel Crossing II, a 27,128 square-foot shopping center located in The Woodlands, TX, according to David H. Luther, regional manager of the firm’s Houston office. The asset had a list price of $7,100,000 and attracted multiple offers from domestic and international investors.

Derek Hargrove and Justin Miller, 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 buyer, an out of state limited liability company, was secured by Hargrove and Miller.

Marcel Crossing II is located at 8000 McBeth Way in The Woodlands, TX and is situated between the affluent Carlton Woods and Sterling Ridge Villages.  The shopping center is host to a popular mix of medical, restaurant, and service tenants including Vedas Med Spa, Boni's Dance Studio, Nail & Spa Today, Kumon and The Breakfast Place.

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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 - 11:42

Source

Marcus & Millichap

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