Press Releases
Marcus & Millichap Arranges Sale of 950-Unit Self-Storage Portfolio in Springtown, Texas
August 28, 2026
SPRINGTOWN, Texas, Aug. 28, 2026 — 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 the Springtown & Azle Storage Portfolio, a two-property, 950-unit self-storage portfolio in the northwest Fort Worth area.
“It’s always great to work with repeat clients. We sold both facilities to the sellers a few years back, and we’ve completed several transactions with the buyer over the past year,” said Danny Cunningham, senior managing director investments. “Despite some unexpected capital markets volatility during the process, we were able to maintain buyer interest and keep the transaction moving forward. The deal closed on time at more than 95% of the original asking price after generating multiple offers, which speaks to the continued demand for self-storage in the secondary markets surrounding DFW.”
Cunningham and Brandon Karr, investment specialists in Marcus & Millichap's Fort Worth office, exclusively marketed the portfolio on behalf of the seller, a DFW-based, family-owned partnership that elected to sell the portfolio and redeploy the proceeds into its growing HVAC business, and procured the buyer, 10 Federal.
The Springtown & Azle Storage Portfolio comprises two self-storage facilities totaling 150,980 rentable square feet and 950 units across more than 15 acres. The portfolio includes a property located at 1050 W. Highway 199 in Springtown and a second facility in Azle. The assets serve the expanding northwest Fort Worth corridor.
“It’s always great to work with repeat clients. We sold both facilities to the sellers a few years back, and we’ve completed several transactions with the buyer over the past year,” said Danny Cunningham, senior managing director investments. “Despite some unexpected capital markets volatility during the process, we were able to maintain buyer interest and keep the transaction moving forward. The deal closed on time at more than 95% of the original asking price after generating multiple offers, which speaks to the continued demand for self-storage in the secondary markets surrounding DFW.”
Cunningham and Brandon Karr, investment specialists in Marcus & Millichap's Fort Worth office, exclusively marketed the portfolio on behalf of the seller, a DFW-based, family-owned partnership that elected to sell the portfolio and redeploy the proceeds into its growing HVAC business, and procured the buyer, 10 Federal.
The Springtown & Azle Storage Portfolio comprises two self-storage facilities totaling 150,980 rentable square feet and 950 units across more than 15 acres. The portfolio includes a property located at 1050 W. Highway 199 in Springtown and a second facility in Azle. The assets serve the expanding northwest Fort Worth corridor.
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About Marcus & Millichap, Inc. (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, 2025, the company had 1,808 investment sales and financing professionals in over 80 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
