PEARLAND, TEXAS, January 13, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Broadway Shopping Center, a 15,840-square foot retail property located in Pearland, Texas, according to Ford Noe, Regional Manager of the firm's Houston office.

James H. Bell, Senior Vice President Investments, Watt Harrison, Senior Associate and Stewart Morris III, Associate in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by James H. Bell, Watt Harrison and Stewart Morris III.

"At the end of the day, what sold this deal was proper pricing. The property itself sits in a high traffic, retail corridor with great demographics and good fundamentals. It was a perfect deal for an out of state, private investor who wanted to diversify with minimal landlord responsibility. Even after a very competitive bidding process, the buyer was able to win a great property," says Morris. Furthermore, with the help of Rico Buot, Associate Director at Marcus Millichap Capital Corporation (MMCC), handling the financing, we were able to close quickly during a hectic Holiday Season," added Morris.

Broadway Shopping Center is located at 10009 Broadway Street in Pearland, Texas.


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About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.

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Marcus & Millichap Inc. published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 08:41:00 UTC.