Sale of 51,555 Square-Foot Self-Storage Facility Near McKinney, TX

MARCUS & MILLICHAP ARRANGES THE SALE OF 51,555 SQUARE-FOOT SELF-STORAGE FACILITY NEAR MCKINNEY, TX

 

ANNA, TEXAS, August 31, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Affordable Self-Storage, a 51,555-square-foot self-storage facility located near McKinney, Texas – according to Kyle Palmer, Vice President/Regional Manager of the firm’s Fort Worth office. The transaction occurred during the same week that the brokerage company also closed its 250th self-storage property arranged by Marcus & Millichap in the state of Texas.

Brandon Karr, First Vice President Investments and Danny Cunningham, Senior Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor who constructed and operated the property himself. The buyer – a local storage owner/operator with several facilities throughout the state – was secured by Mr. Karr and Mr. Cunningham.

Affordable Self-Storage is a 49,555-rentable-square-foot storage facility resting on one parcel totaling approximately 6.73 acres located at 13177 Highway 5 in Anna, Texas.

Located in the far northeast portion of the greater Dallas-Fort Worth Metroplex, the storage facility was built in stages from 2004 to 2015 and features an on-site managers residence, garage-style roll-up doors, personalized key-pad gated entry, perimeter fencing and lighting and recently-upgraded 24-hour video surveillance cameras. The facility is comprised of 76 climate-controlled units, 312 non-climate drive-up units, 20 enclosed boat/RV units, 16 covered boat/RV units and 63 uncovered parking spaces. The leasing office and managers residence lie on the same parcel as the storage units. Upon an adjacent parcel approximately 0.86 acres in size lies a small garden office building constructed in 2004 containing two suites each of which are approximately 1,000 rentable-square-feet in size. This parcel was included in the sale as well.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com