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 1000 Northeast 28th Street, a 108,951-square-foot manufacturing facility located in Fort Worth, Texas, according to Tim A. Speck, division manager of the firm’s Dallas office.
Adam Abushagur, senior managing director investments, Davis Cagle, senior associate, and Tyler Ranft, associate, had the exclusive listing to market the property on behalf of the seller, a former owner-user.
“TAG successfully assisted a publicly traded manufacturer in liquidating an unused facility at 7 percent above the seller’s target price,” commented Cagle.
“Despite deferred maintenance conditions,” continued Ranft, “we helped facilitate a trade to a local manufacturer with plans to improve the building and connecting rail spur.”
1000 Northeast 28th Street is located in Fort Worth, Texas. The subject property is situated on 9.39 acres of land and was built in 1963.
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.