HOUSTON, 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 CubeSmart (Managed) Self Storage, a two property self storage portfolio located in Texarkana, Texas. The asset has 571 units and 85,656 net rentable square feet.
Dave Knobler, First Vice President Investments in Marcus & Millichap’s Houston, Texas office and Charles “Chico” LeClaire, Executive Managing Director Investments in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on the behalf of the Seller, a Florida based LLC. “COVID-19 made things a little tricky,” said Knobler. “Travel restrictions prohibited the California based Buyer from physically being able to see the property, but they were able to get comfortable with the asset by using local inspectors and a virtual tour,” Knobler continued. “We were able to send over 10 minutes of raw video of the property. Otherwise things went smoothly as the lender, title company, and other 3rd party inspectors all went through their processes in a timely fashion.”
The CubeSmart (Managed) Self Storage portfolio has locations at 927 North Robison Road and 241 Forest Lake Drive in Texarkana.