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 Trane (Distribution Center), a 536,141-square foot industrial property located in Tyler, Texas, according to Tim A. Speck, district manager of the firm’s Dallas office.

Adam Abushagur, industrial specialist and first vice president investments 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 also procured by Adam Abushagur.

“With parent company Ingersoll Rand, tenant Trane had recently expanded to fully occupy the entire facility. The property is currently undergoing a voluntary cleanup program which makes it environmentally unappealing for a majority of buyers,” said Abushagur. “We ultimately received a total of eight offers due to our strategic marketing process and the strong tenancy,” he said.

Trane (Distribution Center) is located at 1710 East Duncan Street in Tyler, Texas. The subject property is situated on 36.9 acres of land and was built in 1949.

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.