12/01/2021 | Press release | Distributed by Public on 12/01/2021 13:27
HOUSTON, TEXAS, December 1, 2021 - 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 Easy Self Storage, a 236 unit, 29,716-square foot self-storage facility located in Houston, Texas, according to Ford Noe, Regional Manager of the firm's Houston office.
Dave Knobler, Senior Vice President Investments in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. "With over 125,000 residents within three miles, visibility to around 21,000 vehicles daily on State Highway 249, and an undersupplied trade area with less than four square feet of storage per capita, finding a qualified purchaser was, pardon the pun, pretty easy" said Knobler. "Additionally, being in a gentrifying area inside Beltway 8 will afford the buyer an opportunity to take the property to a higher level". The buyer, a Houston and California based limited liability company, was also secured by Dave Knobler.
Easy Self Storage is located at 11901 TX-249 in Houston, Texas. The unit mix is composed of 172 non-climate units totaling 24,076 net rentable square feet and 64 climate control units that comprise 5,640 net rentable square feet. The facility has five single story buildings with metal construction and concrete driveways. Easy Self Storage was initially constructed in 1984, but a recent fire to one of the buildings prompted the owner to construct new climate control units. The property has numerous amenities including, but not limited to, security lighting, perimeter fencing, a marquee sign, video surveillance, and an electronically controlled access gate with digital keypad access. There is also an on-site manager's office and residence.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.