Thursday, April 25, 2013

$10.7 Million Net-Leased Industrial Facility Sale Arranged by Marcus & Millichap in Garland, TX




336,499-square foot manufacturing and distribution facility
 net-leased to the Apex Tool Group in Garland, TX

GARLAND, TX, April 25, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 336,499-square foot manufacturing and distribution facility net-leased to the Apex Tool Group in Garland, Texas.

John Glass
            John Glass, a senior vice president investments in Marcus & Millichap’s San Francisco office, and James Bell, a vice president investments in the firm’s Houston office, represented the seller. Glass and Scott Pertel, an associate in San Francisco, represented the buyer.

            “There was a tremendous demand for the facility from both private and institutional investors,” says Glass.  “After receiving a number of offers in just two weeks, an investor was selected that closed the transaction in three weeks on an all-cash basis. The final selling price was $10,700,000.”

James H. Bell
“Apex Tool Group, a leading producer of hand and power tools, is on a new 20-year triple-net lease,” adds Bell. “The lease is guaranteed by Apex Tool Group LLC, which has an estimated $1.46 billion in annual sales.”

“Apex Tool Group has been the principal manufacturer of Sears Craftsman brand hand tools for more than 65 years,” says Pertel.

            The property is located at 3000 West Kingsley Road in Garland. The area is part of the Northeast Dallas industrial market, which is the third-largest submarket in the Dallas/Fort Worth metropolitan area with over 108 million square feet of industrial space.

For a complete copy of the company’s news release, please contact:

Ben Johnson,
Marketing Director
(925) 953-1736

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