Marcus & Millichap Arranges $2 Million Sale of Industrial Property in Missouri

RAYTOWN, Mo., Nov. 5, 2024 - 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 9620 E. State Route 350, a 34,560-square-foot industrial property located in Raytown, Missouri. The property sold for $2 million.

"My client was involved in a 1031 exchange and was seeking a value-add investment with near-term upside potential," said Peter Doughty, first vice president of investments. "I presented this opportunity to them, and it ultimately met all their investment criteria."

Doughty, investment specialist in Marcus & Millichap's Chicago Downtown office, procured the buyer. Dave Saverin, Broker of Record in Missouri, assisted in closing the transaction.

The property houses five suites across 34,560 square feet. Built in 1985, the asset is situated on 2.54 acres near Interstate-435, just 20 minutes outside of Kansas City.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.