Real Estate Weekly
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Banking and Finance

Marcus & Millichap arranges the sale of a 42,296-sf Industrial Park

  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 Hensley Business Park, a 42,296-square-foot industrial property located in Summerville, SC. The asset sold for $5.680 million, according to Benjamin Yelm, regional manager of the firm’s Charleston office.

Ani Paulson and Pearce Vogler, investment specialists in Marcus & Millichap’s Charleston office, had the exclusive listing to market the property on behalf of the seller, a private investor. Paulson also secured and represented the buyer, another private investor.

“Our team is pleased to exclusively represent the seller on this fully stabilized industrial property. Most of its tenants have occupied the park since the early 2000s and terms remaining on their leases range from one to three years,” said Paulson. “In recent years industrial properties have become very desirable to many investors and lenders, so it’s no surprise we procured an excellent buyer for Hensley Business Park so quickly.”

Built in 2002, Hensley Business Park is located at 133 Elliana Way in Summerville, SC. The property’s 3.77 acres houses four buildings that are one hundred percent occupied by long-term tenants on triple-net leases, meaning the tenants are fully responsible for all the expenses of the property.

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