M&M BROKERS $2.45 MILLION SALE OF CHASE BANK IN HOUSTON

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HOUSTON — Marcus & Millichap has brokered the $2.45 million sale of a 3,578-square-foot retail facility leased to Chase Bank, located at 3209 N. Shepherd Dr. in Houston. Justin Miller of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership, in the transaction. Reed Hudson of Stan Johnson Co.'s Houston office represented the buyer, a northeast U.S.-based partnership that was procured in a 1031 exchange. The property is leased to Chase Bank for 20 years.