Marcus & Millichap Inc.
06/20/2022 | Press release | Distributed by Public on 06/20/2022 13:19
Marcus & Millichap Negotiates The Sale Of A 61,750-Square Foot Self-Storage Facility In Waxahachie
Press Releases
Marcus & Millichap Negotiates The Sale Of A 61,750-Square Foot Self-Storage Facility In Waxahachie
June 20, 2022
WAXAHACHIE, TX, June 20, 2022 - 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 iStor Self Storage, a 61,750-square foot self-storage facility located in Waxahachie, Texas, according to Mark R. McCoy, regional manager of the firm's Fort Worth office.
Brandon Karr, an investment specialist in Marcus & Millichap's Fort Worth office, and leader of the Karr-Cunningham Storage Team, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a self-storage investor located in California, was procured by Mr. Karr as well.
According to Mr. Karr, "This transaction was reflective of an investment market that remains very hungry for deals that have upside potential in the form of expansion land. It was a competitive situation, but we were able to leverage our own internal database of buyers, along with the Marcus & Millichap national platform, to procure a buyer who was willing to put down non-refundable earnest money day-one. We were then able to close the deal on time, at the agreed-to purchase price. The transaction allowed our client, the seller, to achieve their retirement goals, and the buyer is now able to achieve some estate-planning objectives that would have otherwise not been possible in California. "
iStor Self Storage is located at 1021 Ovilla Road in Waxahachie, Texas.
Brandon Karr, an investment specialist in Marcus & Millichap's Fort Worth office, and leader of the Karr-Cunningham Storage Team, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a self-storage investor located in California, was procured by Mr. Karr as well.
According to Mr. Karr, "This transaction was reflective of an investment market that remains very hungry for deals that have upside potential in the form of expansion land. It was a competitive situation, but we were able to leverage our own internal database of buyers, along with the Marcus & Millichap national platform, to procure a buyer who was willing to put down non-refundable earnest money day-one. We were then able to close the deal on time, at the agreed-to purchase price. The transaction allowed our client, the seller, to achieve their retirement goals, and the buyer is now able to achieve some estate-planning objectives that would have otherwise not been possible in California. "
iStor Self Storage is located at 1021 Ovilla Road in Waxahachie, Texas.
# # #
About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.