MIDLAND, TEXAS, October 15, 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 Genco Energy Services, Inc., a 4,518-square-foot industrial property located in Midland, Texas, according to Tim A. Speck, division manager of the firm's Dallas office.
Adam Abushagur, senior managing director investments, and Davis Cagle, associate, had the exclusive listing to market the property on behalf of the seller, a private investor.
"Our team facilitated five offers, and the property quickly closed after only 16 days on the market," continued Cagle, "We assisted the seller in unlocking equity to reinvest into a diversified portfolio."
"We overcame the challenge of buyer objection on property condition by highlighting tenant responsibility under the absolute net lease," said Abushagur.
Genco Energy Services, Inc. is located at 13100 West Highway 191 in Midland, Texas. The subject property is situated on 3.05 acres of land and was built in 2013.
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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.
Marcus & Millichap Inc. published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 21:41:02 UTC.