MARCUS & MILLICHAP ARRANGES THE SALE OF A 72,415 SQUARE FOOT SELF-STORAGE FACILITY
GREENVILLE, Texas, 2016– 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 RitePlace Storage, a self-storage located in Greenville, according to David H. Luther, first vice president/regional manager of the firm’s Houston office. The asset had 72,415 net rentable square feet and a list price of $3.33 million.
Dave Knobler, a senior associate, in Marcus & Millichap’s Houston office, and Brandon Karr, a vice president investments, in Marcus & Millichap’s Fort Worth office had the exclusive listing to market the property on behalf of the seller, a limited liability company. “While the buyer pool in outlying areas isn’t as deep as it is for the major metros, we still created a competitive environment for the asset” said Knobler. The buyer, a limited liability company, was also secured by Dave Knobler and Brandon Karr.
RitePlace Storage is located at 1909 Interstate Highway 30 West in Greenville.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 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