SHREVEPORT, LOUISIANA, May 10, 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 Ayers Career College, a 30,000-square foot net-leased property located in Shreveport, Louisiana, according to H. Kyle Palmer, Regional Manager of the firm’s Fort Worth office.

Philip Levy, Senior Director and Chris Gainey, Senior Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a fund manager.  The buyer, a bank/financial institution, was also secured by Mr. Levy and Mr. Gainey. William Hoffpauir, Broker, assisted in closing this transaction.

Ayers Career College is located at 8820 Jewella Avenue in Shreveport, Louisiana.  The subject property is a 30,000-square foot single tenant building leased to Ayers Institute, Inc., Ayers Career College in Shreveport, Louisiana. The tenant recently executed a 10.5 year lease extension. Area retailers include Valero, Office Depot, State Farm Insurance, Firestone, Burlington Coat Factory, Long John Silver’s, Metro PCS, Subway, H&R Block, Pro Cuts, Big Lots, Denny’s, Lowe’s, Applebee’s, Popeye’s Chicken, and others.

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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