Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Strawberry Plaza, a 13,753-square foot retail property located in Pasadena, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office. The asset was listed for $1,700,000.

Riley Sharman, Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured by Riley Sharman. The buyer purchased the strip center in order to maximize value thru lease-up and expense reimbursements while the Seller looked to capitalize via a 1031 Exchange Upleg.

Strawberry Plaza is located at 1900 Strawberry Road in Pasadena, Texas.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.