Closed | A Space Place Self Storage | 03/26/2021

Huntsville, TX 77340 | NRSF - 50,940 | 03/26/2021

MARCUS & MILLICHAP ARRANGES THE SALE OF A 50,940-SQUARE FOOT SELF-STORAGE FACILITY

HUNTSVILLE, Texas, March 30, 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 A Space Place Self Storage, a 50,940-square foot self-storage facility located in Huntsville, Texas, according to Mark R. McCoy, regional manager of the firm's Fort Worth office.

Brandon Karr, Senior Vice President Investments in Marcus & Millichap's Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Karr.

"The Texas-based Karr Self-Storage Team, anchored by the Marcus & Millichap national platform, exposed the asset to a wide variety of qualified investors - ultimately producing a competitive bidding environment that allowed the seller to realize their pricing goals. Having interviewed multiple brokers, the client chose the Karr Self-Storage Team because of our track record in Texas, our historical list-to-close price ratio, and our consistent willingness to serve as strategic advisors with the ability to navigate a complex transaction," commented Mr. Karr, "The complexities of the deal did not prohibit us from having a 30-day marketing period that yielded 8 offers and resulted in a 60-day start-to-finish closing".

A Space Place Self Storage is located at 20 FM 1791 in Huntsville, Texas. The subject property is a 50,940 rentable square foot facility comprised of 320 total units.