Marcus & Millichap Arranges The Sale Of Barker Cypress Self Storage In Houston, Texas
HOUSTON, TEXAS, October 18, 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 Barker Cypress Self Storage, a 56,050 square foot storage facility located in Houston, Texas.
Dave Knobler, Senior Vice President Investments in Marcus & Millichap’s Houston, Texas office and Charles "Chico" LeClaire, Executive Managing Director Investments in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a family partnership. “From multiple offers within the first 24 hours of our marketing process, to getting flooded with so much interest that we ended up having a best and final the week before the call for offers date, the response from the market was incredible,” said Knobler. “The facility’s rates were at the low end of the submarket and numerous groups saw an opportunity to greatly improve the operations in a densely populated area of West Houston.”
Barker Cypress Self Storage is a 56,050 NRSF self-storage facility located in Houston, Texas. The property sits on approximately 2.89 acres of land and has nine single-story buildings consisting of 130 climate control units that equal 15,800 NRSF (28 percent), and 339 non-climate units that add up to 40,250 NRSF (72 percent). The facility has numerous amenities including but not limited to, video surveillance throughout the property, an automatic entrance gate with key code access, roll-up doors, concrete driveways, and a full-service on-site manager's office and residence. The property was initially constructed in 1996 and expanded in 2003.
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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.