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 Deer Park Plaza, a 15,000-square foot retail property located in Deer Park, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office. The asset was listed for $1,950,000

Riley Sharman, Associate, in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private New York-based partnership. “The Seller’s intention was to reinvest the proceeds into alternative asset types for diversification purposes.” The buyer, a private local investor, was secured by Riley Sharman and purchased the value-add strip center intending to maximize the cash flow upon stabilization.

Deer Park Plaza is located at 1609 Center Street in Deer Park, 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.