Marcus & Millichap Arranges the Sale of a 27,700 Net Rentable Square Foot Self-Storage Facility
HOUSTON, TEXAS, January 13, 2015– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Heights Mini Storage, a 27,700 net rentable square foot self-storage facility located in Houston, according to David H. Luther, vice president/regional manager of Marcus & Millichap’s Houston office. The asset had a list price of $1,000,000.
Dave Knobler, a senior associate, and Justin Miller, a vice president investments, both in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.“There is so much interest in that part of town right now,” said Knobler. “We received 20 offers on the property throughout the marketing process and I think a lot of that was due to being sandwiched between the new Fulton Rail Line and the growth in the Greater Heights area.” The buyer, an individual/personal trust, was procured by Knobler and Miller.
Heights Mini Storage is located at 1600 Cordell Street in Houston.
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About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment 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 over 6,600 transactions in 2013 with a value of approximately $24 billion. The company 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