CEDAR HILL (DFW), TEXAS, December 19, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of The Ranch at Cedar Hills, a 13,876-square foot retail property located in Cedar Hill (DFW), Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
Philip Levy, First Vice President Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a private investor, was also secured by Mr. Levy.
The Ranch at Cedar Hills is located at 1429 N J Elmer Weaver Freeway in Cedar Hill (DFW), Texas. The subject property is currently 91 percent occupied, and all tenants are triple-net. The buildings were constructed in 2003 and are situated on 2.16 acres of land.
Tenants include Wood Stack Smoke House, Smoking Jacket Cigar Lounge, Beauty Shop, Edward D Jones, A Simple Touch Day Spa, Nations Contracting and Veracruz Cafe.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company 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