Marcus & Millichap Arranges The Sale Of A 56,650-Square Foot Self-Storage Facility
FORT WORTH, TEXAS, September 16, 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 Chapel Creek Storage, a 56,650-square foot self-storage facility located in Fort Worth, Texas.
Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private DFW-based partnership. The buyer, Montfort Capital, a Dallas-based storage group purchasing their ninth Texas asset, was secured by Mr. Karr and Mr. Cunningham.
“During the marketing period, we made sure potential investors knew just as much about the submarket as the facility itself. This particular portion of Fort Worth has experienced a tremendous amount of growth over the past 5 years, and it is only a small fraction of the development that will take place within the next 10 years. As a result, our team was able to generate multiple list price offers, and we ultimately closed above asking price,” says Mr. Cunningham.
Chapel Creek Storage is located at 10113 First Chapel Drive in Fort Worth, Texas.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.