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 Corporate Place Of Richardson, a 98,180-square foot office property located in Richardson, Texas.

Ron Hebert, senior vice president investments, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust, and procured the local buyer with international and U.S. equity.

Corporate Place of Richardson received multiple offers and sold below replacement cost with an upside potential through increasing rental rates and occupancy. The property has easy accessibility to I-75 Central Expressway and is located at 1101 East Arapaho Road in Richardson, Texas.

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.