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 Skillman Centre, a 55,867-square foot retail property located in Dallas, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Joe Santelli, investment specialist in Marcus & Millichap’s Dallas 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 Santelli.
“We previously marketed the property in 2017, this time we were able to transact significantly higher than where offers were generated in 2017. Even during a pandemic, we were able to close this transaction,” commented Santelli, “The seller was looking to exit the property to move the capital into other investments. Our team was able to procure multiple offers for the seller, putting them in the best position to transact at the highest value available in the market. Although the property was approximately 66% leased at time of sale, we were able to secure attractive financing to move the deal across the finish line”.
Skillman Centre is located at 9205 Skillman St in Dallas, Texas. The subject property is a 55,867-square foot shopping center.
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 9,726 transactions in 2019 with a value of approximately $50 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.
