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 Advance Auto Parts, a 7,000-square foot net-leased property in Palmview, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Justin Miller, First Vice President Investments, and Davis Hansen, Senior Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a Houston-based partnership. The buyer, an out of state individual/personal trust, was secured and represented by Hank Wolfer, First Vice President Investments in Marcus & Millichap’s Seattle office.

“The buyer owns several other auto part investment properties in the submarket, so this acquisition made sense strategically,” says Wolfer. “The tenant had recently extended its lease, making this an appealing offering,” added Miller.

Advance Auto Parts is located at 404 North FM 492 in Palmview, Texas adjacent to HEB grocery store.

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.