10/28/2021 | Press release | Distributed by Public on 10/28/2021 09:48
PHARR, TEXAS, October 28, 2021 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Pharr Logistics Center, a multi-tenant, fully-leased, 109,737-square-foot industrial property featuring 72 dock-high doors located in Pharr, Texas, according to Tim A. Speck, division manager of the firm's Dallas office.
Adam Abushagur, senior managing director investments, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private equity group, was also procured by Abushagur.
"This logistics facility was particularly desirable due to its proximity to the Pharr International Bridge," commented Abushagur, "Our team assisted the seller in liquidating this value-add asset and returning the realized gains to shareholders."
Pharr Logistics Center is located at 201 West Anaya Road in Pharr, Texas. The subject property is situated on 7.77 acres of land and was built in 1994.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.