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Marcus & Millichap Closes Bowies Travel Center Transaction In Menard, TX For $6.6M

Property Image
SOLD
$6,600,000
Sai Thakor
Jacob Luna
Wyatt Andreu

Texas

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Retail217,800 SF
Sold 07/01/2024
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Closes Bowies Travel Center Transaction In Menard, TX For $6.6M

1692 US Route 83

See Similar Deals
Retail217,800 SF
Sold 07/01/2024
Sai Thakor
Jacob Luna
Wyatt Andreu
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Retail
Price Per Square Foot:$30
Total Square Footage:217,800 SF
Transaction Type:Sale

The property at 1692 US Route 83 in Menard, TX is a retail asset known as Bowies Travel Center. It was recently sold for $6,600,000, the same price as the asking price. The property spans 217,800 square feet, resulting in a price per square foot of $30.

Summary of transaction details:

Marcus & Millichap, through their brokers Wyatt Andreu, Sai Thakor, and Jacob Luna, successfully facilitated the sale of Bowies Travel Center. The property was part of a 3-property portfolio in West Texas, with 68 CA's and 11 offers submitted. The Luna Thakor group represented both the buyer and seller, ensuring a quick closing of the transaction in just 32 days.

Players

Sai Thakor
CBRE
Sai Thakor
25 deals$80.6M volume(832) 689-5400
BROKER
Jacob Luna
Marcus & Millichap
Jacob Luna
12 deals$66M volume
BROKER
Wyatt Andreu
CBRE
Wyatt Andreu
5 deals$6.6M volume(832) 472-7821
BROKER

Details

SOLD
IMAGE: Sai Thakor, Wyatt Andreu & Jacob Luna DATE: 07/01/2024 ADDRESS: 1692 US Route 83 MARKET: Menard, TX ASSET TYPE: Retail BROKERS: Wyatt Andreu (@WyattAndreu), Sai Thakor (@SaiThakor) & Jacob Luna (@JacobLuna10) - Marcus & Millichap (@MarcusMillichapinc) ASKING PRICE: $6,600,000 SALE PRICE: $6,600,000 SF: 217,800 ~ PPSF: $30 NOTE FROM BROKER: Marcus & Millichap is pleased to announce the closing of Bowies Travel Center in Menard, TX. This asset is a part of a 3-property portfolio in West Texas. The property was put under contract while being marketed offline with one of our private investors. The Luna Thakor group had 68 CA’s & a total of 11 offers submitted. With our ability to articulate value proposition, we successfully closed this transaction in 32 days at asking price. The Luna Thakor group represented both buyer and seller in this milestone transaction. More Information: Bowies Travel Center in Tuscola, Texas has just been brought to market & is gaining traction quickly. Additionally, 9 Acres approved for a travel center is available in Abilene. Deal Highlights: - Closed at asking price - Represented both Parties - 32 Days start-to-finish closing

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