Closed Don's Self Storage
MARCUS & MILLICHAP ARRANGES THE SALE OF A 49,225-SQUARE FOOT SELF-STORAGE FACILTY
TYLER, TX, June 22, 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 Don's Self Storage, a 49,225-square foot self-storage facility located in Tyler, Texas, according to Mark R. McCoy, regional manager of the firm’s Fort Worth office.
Danny Cunningham and Brandon Karr, investment specialists in Marcus & Millichap’s Fort Worth office, and leaders of the Karr-Cunningham Storage Team, had the agreement to market the property on behalf of the seller, a private investor and East Texas native. The buyer, a private investment group out of California, was also secured by Mr. Cunningham and Mr. Karr.
Danny Cunningham, the lead agent on this transaction, stated, “We make it a habit to regularly communicate with owners in our market even when they have expressed zero desire to sell in the foreseeable future. You never know how quickly that may change, and this transaction was a perfect example. I have known the owner of Don’s Self Storage for over five years – he is constantly speaking with storage brokers about market trends and sales. We would typically connect a few times a year, and during our latest phone call a few months ago, I discovered the property had fallen out of contract with an off-market buyer just one day prior. Fortunately, we had several other storage listings in the Tyler area and knew a handful of buyers would love to purchase this self-storage facility at the price the seller had agreed to previously. It only took one call for us to plug in a new buyer, and we successfully facilitated a smooth close a few months later.”
Don's Self Storage is located at 13120 TX-110 in Tyler, Texas.