Closed | Easy Storage Solutions
MARCUS & MILLICHAP ARRANGES THE ABOVE-LIST-PRICE SALE OF A 143,560 RENTABLE-SQUARE FOOT FACILITY IN THE DALLAS-FORT WORTH METROPLEX
ROYSE CITY, TX, October 31, 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 Easy Storage Solutions, a 143,560 rentable-square foot self-storage facility located in Royse City, 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 exclusive listing to market the property on behalf of the seller, a local opportunistic entrepreneur who built the facility in 2016. The buyer, a private investor, was secured by Mr. Cunningham and Mr. Karr.
According to Mr. Cunningham, “We worked closely with both the buyer and seller to make sure the transaction closed before the Federal Reserve could raise interest rates any further. Our marketing campaign began in early August, and the buyer pool proved to be so robust, in just two weeks, we generated multiple offers significantly above our asking price – many of which included non-refundable earnest money from day one. We selected a buyer who was not only intimately familiar with the property and its submarket, he was also very aware of the shifting capital markets landscape. Because of this, and we closed on-time at the originally contracted price.”
Easy Storage Solutions is located at 7451 Farm-to-Market 35 in Royse City, TX.