HOUSTON, TX | The LeClaire-Schlosser Group of 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 Bear Creek Boat & RV Storage, a 287,804 net rentable square foot storage facility located in Katy, Texas.
Dave Knobler, Senior Managing Director Investments in Marcus & Millichap’s Houston, Texas office, and Charles “Chico” LeClaire, Executive Managing Director Investments in the Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a Texas-based LLC. “With double digit offers it was another incredible response from the market for a well positioned Boat/RV Storage asset,” said Knobler. “Land costs on 15+ acres fronting on West Little York (as if that’s readily available in the first place) would be hard to duplicate with sub $5 rents, but the market saw the immense upside.” The Buyer, a Texas-based LLC, was secured by Knobler and LeClaire.
“With double digit offers, it was another incredible response from the market for a well positioned Boat/RV Storage asset. Land costs on 15+ acres fronting on West Little York would be hard to duplicate with sub $5 rents, but the market saw the immense upside.”
Bear Creek Boat & RV Storage is located in Katy, Texas on the far west side of Greater Houston. The property sits on approximately 15.42 acres of land and has 14 single story buildings consisting of 625 drive up non-climatized units and 15 outdoor parking spaces. The facility has amenities including, but not limited to, video surveillance throughout the property, an automatic entrance gate with key code access, swing doors and roll-up doors, asphalt and concrete driveways, and an onsite manager’s office.