SUNNYVALE, TX– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of a FedEx Freight facility in Sunnyvale, approximately 10 miles from downtown Dallas.
Alvin Mansour, (top left photo) a senior vice president investments and senior director of the firm’s Net Leased Properties Group in San Diego, represented the seller, a Washington State-based developer.
Ben Sgambati, a vice president investments, and Alan Cafiero, an industrial investment specialist, both in the firm’s New Jersey office, represented the buyer, a New York-based investor. Will Jarnagin, the licensed partner in the firm’s Dallas office, also provided representation.
“With increasing demand for large single-tenant properties backed by credit-rated corporate guarantors, The Mansour Group was able to produce more than six offers and a fully executed letter of intent within 30 days of marketing,” says Mansour. “Our ability to create a market for each property we list, combined with our streamlined due diligence process, ultimately got the deal closed just 17 days after completion of the inspection period.”
“This transaction is another example of the Marcus & Millichap marketing platform producing results for our clients by moving equity across the country,” comments Sgambati.
Located at 301 Clay Road in Sunnyvale, the property has easy access to U.S. Highway 80, where traffic counts exceed 69,000 vehicles per day.
The 136,751-square foot FedEx freight facility is situated on more than 30 acres and is designed to accommodate approximately 20,860 square feet of building expansion.
The property consists of 11,761 square feet of office space, 113,270 square feet of warehouse space, 9,640 square feet of shop space, an 80-square foot guard shack and a 2,000-square foot fuel island.
The fuel island includes a 12,000-gallon, double-walled fiberglass underground storage tank with a Veeder-Root monitoring system.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
No comments:
Post a Comment