Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of West Little York Office Plaza, a 61,500-square foot industrial property located in Katy, Texas, according to Ford Noe, Regional Manager of the firm’s The Woodlands office. The sales price in undisclosed.

Nate Newman, Vice President Investments, and Logan Kelly, Associate, in Marcus & Millichap’s The Woodlands office, had the exclusive listing to market the property on behalf of the seller, a local developer. The buyer, a limited liability company, was secured and represented by Nate Newman.

“This is a nice property, but since the tenants are local credit and the construction is metal rather than tilt-wall, the cap rate was significantly higher than other industrial assets on the market,” explained Newman. West Little York Office Plaza is located at 18703 West Little York Road in Katy, Texas.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 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 over 9,000 transactions in 2017 with a value of approximately $42.2 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