CLOVIS, NEW MEXICO, February 9, 2017 – 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 Clovis Shopping Center, a 7,200-square foot retail property located in Clovis, New Mexico, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
Philip Levy, Senior Managing Director 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. Matthew Reeves, Senior Associate in Marcus & Millichap’s New Mexico Office, assisted in closing this transaction.
Clovis Shopping Center is a 7,200-square foot multi-tenant retail center located at 3900 N Prince Street in Clovis, New Mexico. The center is 100 percent occupied with credit tenants, and all of the leases are triple-net. The building was constructed in 2004 and sits on 0.7 acres.
Tenants consist of GameStop, Papa Murphy’s Take ‘N’ Bake Pizza, The Cash Store and Payless ShoeSource. Traffic counts are approximately 8,600 vehicles per day in front of the property.
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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