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California Based Buyer Purchases Greater Houston Area Four Property Self-Storage Portfolio

January 19, 2022

SANTA FE, TEXAS, January 19, 2022 – 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 Santa Fe Storage Portfolio (Houston MSA), a four property self-storage portfolio located in Santa Fe, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Dave Knobler, Senior Vice President Investments in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. “I had been approached by would be buyers for years, but Dave was able to get us more for the properties than my wife and I thought was possible,” said the Seller Raymond Haak. “Like seemingly every corner of Houston, Santa Fe is experiencing growth and the market responded to an opportunity to take these assets to the next level,” said Knobler. The buyer, a private investor based out of Los Angeles, was also secured by Dave Knobler.

The properties sit on approximately 4.35 acres of land and there are 17 single story buildings and one two story office residence. There are a total of 677 rentable spaces made up of 655 non-climate units, 21 outdoor parking spaces, and an efficiency apartment. All the properties have entrance gates with a digital keypad access. The Highway 6 location was constructed in 1984, the FM 1764 and Avenue G ½ properties were built in 1980, and the Avenue J asset was constructed in 1979. There is an on-site management office with a residence at the Highway 6 location while the other properties are unmanned. The four properties are located either on or close to the main streets in Santa Fe within about a 2-mile radius and provide convenient access to customers throughout the town.

 

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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.

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