Ray Childress Self-Storage Facility Sold by Marcus & Millichap
PINEHURST, Texas, June 9, 2015– 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 Ray Childress Storage located in Pinehurst, according to David H. Luther, first vice president/regional manager of Marcus & Millichap’s Houston office.
The asset had a list price of $815,000 and had 21,600 net rentable square feet and 16,400 feet of covered and uncovered parking.
Dave Knobler, a senior associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. “The interest in the asset was fantastic,” said Knobler.
“We received nine offers within a month of hitting the market”. Knobler added that several prospects knew the seller’s son Ray Childress from his days as a star for the Houston Oilers. Childress commented that “I had high expectations, but those expectations were exceeded.” The buyer, a limited liability company, was also secured by Knobler.
Ray Childress Storage is located at 35615 FM 149 in Pinehurst.
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About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 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 7,600 transactions in 2014 with a value of approximately $33.1 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
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