Closed Pack & Stack Storage
MARCUS & MILLICHAP ARRANGES THE SALE OF A 20,400 RENTBLE-SQUARE FOOT SELF-STORAGE FACILITY
CROWLEY, 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 Pack & Stack Storage, a 20,400 self-storage facility located in Crowley, 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. The buyer, Gray Line Investments, was also secured by Mr. Cunningham and Mr. Karr.
Mr. Cunningham explains, “The sale was the culmination of years of work in this particular Fort Worth suburb. We originally got in touch with the owner of Pack & Stack Storage while marketing the two self-storage properties around the corner for sale in early 2021. At that time, we determined it would not be in his best interest to sell given the amount of unrealized potential at the property. Fortunately, once the seller successfully implemented and executed a plan that we put into place last year, we were able to sell the facility at the price the seller required.”
Pack & Stack Storage is located at 1520 Bean Drive in Crowley, Texas.