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 Northwood Village, a 31,245-square foot retail property located in Houston, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.

Philip Levy, an investment specialist 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 Levy.

“We were able to complete the sale in the middle of the COVID-19 pandemic with many of the tenants undergoing a recovery. The Houston market has been flooded with inventory of shopping centers over the past couple months, but with our Marcus & Millichap platform, we were able to secure a buyer and get this under contract and closed,” commented Levy.

Northwood Village is located at 8100-8140 Antoine Drive in Houston, Texas. The subject property is currently 71 percent occupied, providing upside potential in leasing the vacant space. The building is situated on a 2.5-acre lot with ample concrete parking.

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.