Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Texas Tickets Building (Mandell Building), a 7,396-square foot retail property located in Dallas, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Joe Santelli and Matthew Sheard, investment specialists 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 secured and represented by Santelli and Sheard.
“This is the second time we sold this property since 2018. The first sale, we originally brought the buyer to the property in an off-market transaction. This time around, with our marketing efforts, we were able to sell the property over 26% above the previous transaction price, receiving multiple competitive offers throughout the listing process from groups looking to redevelop the property” commented Santelli, “The seller was looking to exit the property to free capital for other investments, while the buyer was looking for a new office headquarters. With short term leases in a highly desirable, high barrier to entry market, we were able to accomplish both party’s goals”.
Texas Tickets Building (Mandell Building) is located at 3508 Greenville Ave in Dallas, Texas.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.
