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 Mansfield Highlands, a 18,138-square foot retail property located in Mansfield, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Philip Levy, an investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Chris Gainey and Philip Levy, investment specialists in Marcus & Millichap’s Dallas, Fort Worth office.
“The buyer was looking for transparency into the financials given all of the accommodation made to the tenants as a result of Covid-19. We were able to close this transaction amidst the market disruption”, commented Levy.
Mansfield Highlands is located at 26 East Debbie Lane in Mansfield, Texas. The subject property is an 18,138-square foot, multi-tenant retail center located in the high-growth Dallas-Fort Worth suburb of Mansfield, Texas. Tenants are complementary mix of internet-resistant businesses, including Mama’s Pizza, Beer & Wine World, Vintage Barber Shop, Debbie Donuts, Unique Threading Salon, Grade Power Learning Center, N&L Foot Care, Foxi Nails, and Benbrook Cleaning. The majority of the leases have personal guarantees.
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 9,726 transactions in 2019 with a value of approximately $50 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.
