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 All Purpose Storage, a 31,090 net rentable square foot storage facility located in Spring, Texas, an affluent suburb on the far northern end of the Greater Houston Area.
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 behalf of the seller, a Houston area partnership. “We received 4 offers on the property and ultimately a local investor who owned multiple self storage facilities within 10 miles made the most compelling offer and purchased the property,” said Knobler. “It was somewhat challenging because the property didn’t have frontage on FM2920 and there are a couple of new entrants into the submarket, but we were able to overcome the challenges thanks to the facility sitting in a vibrant and growing area of Houston.”
The transaction was one of 5 that Knobler closed in the month of May. Knobler and LeClaire also closed Storage Place of Katy in Katy, TX, and Walker Road Storage in Walker, LA. Knobler also closed U-Stuf-It in Houston, TX and Westlake Storage in Westlake, LA.