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 Arkos Field Services, a two-building 21,000-square-foot industrial facility located in Midland, 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 Nathan Parkey, associate, had the exclusive listing to market the property on behalf of the seller, a private investor.
“By generating five offers in less than two weeks of listing, TAG was able to help our out-of-state client liquidate their asset to reinvest in their local market,” stated Cagle.
“While it was difficult to market an asset with a flat lease in a high inflationary environment,” continued Parkey, “we were able to overcome buyers’ objectives by highlighting the tenant’s credit strength.”
Arkos Field Services is located at 11716 Highway 191 in Midland, Texas. The subject property is situated on 10.0 acres of land and was built in 2011. As a subsidiary of Burckhardt Compression Group, Arkos is a leading service provider of compression equipment for the natural gas industry.
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.
