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 Louetta Automotive, a 40,511-square foot net-leased property located in Katy, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.
“The buyer, who was in a 1031 Exchange, was looking for a STNL property in Texas as a replacement for the property he had sold in North Carolina. The buyer reviewed ten different properties in Texas and selected the one in Katy, Texas.” said Bell.
The buyer, a limited liability company, was secured and represented by James H. Bell, Senior Vice President Investments in Marcus & Millichap’s Houston office.
Louetta Automotive is located at 4019 FM 1463 in Katy, Texas.
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.
