MARCUS & MILLICHAP ARRANGES THE SALE OF A 452-UNIT SELF-STORAGE PROPERTY
CLUTE, TEXAS, September 14, 2017 – 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 Clute Affordable Storage, a 452-unit self-storage property located at 508 East Main Street in Clute, Texas, according to Craig R. Swanson, regional manager of the firm’s Austin office.
Nicholas Ling, senior associate in Marcus & Millichap’s Austin office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a limited liability company, was secured and represented by Evan Griffith, first vice president investments, and Tony Pepdjonovic, senior associate, in Marcus & Millichap’s Boston office.
Built in 2002 on 2.4 acres, Clute Affordable Storage is located in the Lake Jackson MSA, approximately 50 miles due south of Houston.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 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 over 9,000 transactions in 2016 with a value of approximately $42.3 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