SPRING, TX | The LeClaire 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 AAA Spring Storage, a 79,778 square foot storage facility located in Spring, Texas.
Dave Knobler, First Vice President Investments in Marcus & Millichap’s Houston office, and Charles “Chico” LeClaire, Executive Managing Director Investments in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller. “The activity was phenomenal,” said Knobler. “I had 10 property tours within 3 weeks of being on the market.” “We had scheduled a call for offers date, but a prospect came in with such a compelling offer beforehand that the seller decided not to wait,” he elaborated. So far this year, the LeClaire Group has sold 33 self-storage properties.
AAA Spring Storage consists of 673 climate and non-climate controlled units, 77 rentable outdoor parking spaces, 14 climate lockers, and one retail space. The property was initially constructed in 2005, however approximately two-thirds of the facility has been constructed since 2010 including the most recent phase in 2015. AAA Spring Storage sits in a highly populated and growing area with over 70,000 people living within a three-mile radius of the property. The population is projected to grow over 11 percent in the next five years. The facility fronts on Aldine Westfield Road which is a major north-south thoroughfare in North Harris County with daily traffic counts of nearly 25,000. The facility is close to three major freeways, sitting less than 1000 feet from the exit off the Hardy Toll Road, and also about 1.5 miles from both the Grand Parkway (99) and Interstate 45. The property is also less than three miles from the ExxonMobil Houston offices in Springwoods Village which is a twenty building, 3,000,000 square foot campus designed to accommodate 10,000 employees.