Marcus & Millichap Arranges The Sale Of A Lufkin, Texas Self-Storage Facility
LUFKIN, TEXAS, July 21, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Texas Moving & Storage, a 223 unit, 22,630-square foot self-storage facility located in Lufkin, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.
Dave Knobler, Senior Vice Presidents Investments, had the exclusive listing to market the property on behalf of the seller, a private investor. “We received several offers for the property from investors from all over the country, but the buyer who ultimately had the most exciting offer was a local investor who had another facility in the market,” said Knobler. “The facility was a well-maintained, primarily climate control asset that was constructed in 2008 and the market really responded to its overall high quality.” The buyer, a private Lufkin based investor, was also secured by Knobler. This was the second closing of an East Texas self-storage facility that Knobler has closed within 30 days after collaborating with the Karr Self-Storage Group on the sale of Longview Climate Storage.
Texas Moving & Storage offers several amenities found in class A storage facilities including, but not limited to video surveillance throughout the property, an automated security gate with keycode access, roll up doors, concrete driveways, a manager’s office, and residence.
Situated approximately 120 miles north of Houston, Lufkin is the retail and medical hub of a 12-county region in Piney Woods of east Texas. Lufkin is the county seat of Angelina County, and the local economy benefits from several strong industries such as timber manufacturing, food products, and aerospace and defense. The property sits about 6/10 mile from the intersection of Whitehouse Road and US 59 which is perhaps the busiest and most popular retail corridors in the region. Buoyed by the affluent Crown Colony subdivision to the south, home to one of Texas most highly rated golf courses Crown Colony Country Club the average household income is close to $100,000 in the immediate vicinity of the asset.
Texas Moving & Storage is located at 2425 Brentwood Drive in Lufkin, Texas.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.