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MARCUS & MILLICHAP ARRANGES THE SALE OF A 118,615-SQUARE FOOT SELF-STORAGE FACILITY
OKLAHOMA CITY, OK, July 06, 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 Store It All Self Storage, a 118,615-square foot self-storage facility located in Oklahoma City, OK, according to Mark R. McCoy, regional manager of the firm’s Fort Worth office.
Brandon Karr, an investment specialist in Marcus & Millichap’s Fort Worth office, and leader of the Karr-Cunningham Storage Team, had the exclusive listing to market the property on behalf of the seller, a local, private investor. The buyer, a privately-held investment firm that operates a national storage portfolio, was procured by Mr. Karr as well.
According to Mr. Karr, “This was a complex transaction. We knew from the start we would have to utilize every bit of the Karr-Cunningham Storage Team’s robust database of active investors - as well as the Marcus & Millichap national platform - to secure a credible buyer who was comfortable purchasing an asset containing not just self-storage, but also a sizeable retail strip center and three large unoccupied industrial warehouses. But the scope and breadth of our reach proved to be more than sufficient, as we generated multiple offers at price points that exceeded the seller’s expectations. The unique nature of the seller’s ownership structure also had to be taken into consideration, but working hand-in-hand with our client, we structured a contract that was palatable to both parties, and everyone walked away from the closing table feeling perfectly satisfied.”
Store It All Self Storage is located at 1423 South Council Road in Oklahoma City, Oklahoma.