MONTGOMERY, Ala., July 27, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the 57,815-square foot U.S. Attorney’s office in Montgomery (top left photo). The sales price of $11,550,000 represents $200 per square foot.
John Wise, a vice president investments in the firm’s Atlanta office, and Henry Schuldinger, an office and industrial properties specialist in Washington, D.C., represented the seller, a national bank.
Tim Feagans, a senior associate and Geoffrey Ficke, an office and industrial properties specialist, both in Marcus & Millichap’s Dallas office, represented the buyer, an institutional investor focused on government-leased properties. Eddie Greenhalgh, an associate in the firm’s Birmingham, Ala., office, also provided representation.
“Increasing market demand for federal leased properties, combined with agent specialization in government-leased assets, resulted in multiple offers and a competitive bidding environment to select the buyer,” says Wise. “The property is 100 percent leased to the federal government through the General Services Administration for use by the Department of Justice, U.S. Attorney, Middle District of Alabama.”
The building was constructed as a build-to-suit for the U.S. Attorney with a 10-year lease term that commenced in May 2007.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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