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 J Rayl Sale-Leaseback North Liberty, a 22,480-square-foot industrial property located in North Liberty, Indiana. The asset sold for $1.3 million.
Craig Fuller, Erin E. Patton and Scott Wiles, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Justin Fenn, Dan Yozwiak and Darpan Patel, investment specialists in Marcus & Millichap’s Columbus and Tampa offices. Josh Caruana, Indiana Broker of Record, assisted in closing this transaction.
Justin Fenn, the lead agent for the buyer, said, “This deal shows the collaborative environment at Marcus & Millichap as agents from different teams in different offices that are based in Columbus, Cleveland that can work together to sell a property in northern Indiana.”
J Rayl Sale-Leaseback North Liberty is located at 114 S Lafayette Street in North Liberty, Indiana. The 22,480-square-foot industrial property sits on 3.9 acres with a mix of office, garage and storage space at the site.