Marcus & Millichap Arranges the Sale of a 338 Unit Self-Storage Facility
HOUSTON, TEXAS, Aug. 6, 2014– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of A Discount Mini Storage, a 29,735 net rentable square foot self-storage facility located in Houston, Texas, according to David H. Luther, vice president/regional manager of Marcus & Millichap’s Houston office. The asset had a list price of $1,095,000 and closed within 40 days of going on the market. Competition for the property was fierce and an all cash local buyer won the bid with aggressive terms and significant hard money up front.
Justin Miller, a vice president investments and David Knobler, an associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a Houston based limited liability company. The buyer, also a Houston based limited liability company, was secured and represented by Juan Cuevas, a senior associate in Marcus & Millichap’s Houston office.
A Discount Mini Storage is located at 3735 Mangum in Houston.