August 13, 2018

The LeClaire Group of Marcus & Millichap Sells Eagle’s Nest Storage in Humble, Texas (Houston MSA)

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 Eagle’s Nest Storage, a 119,470 square foot storage facility located in Humble, 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.  “It was an amazing story, the Seller never raised rents on existing tenants so this was a tremendous upside opportunity for a seasoned operator,” said Knobler.  “We had multiple offers within about 24 hours of hitting the market and were able to have a scenario in which highly qualified purchasers competed for the asset.”  The buyer was a national private self-storage LLC.  So far this year, the LeClaire Group has sold 34 self-storage properties.

Eagle’s Nest Storage consists of 426 drive-up non-climate controlled units. The facility sits in the affluent Atascocita area of Houston where the median household income is around $93,000. The area benefits from amenities such as Lake Houston which is less than three miles from the facility, top rated schools, and several championship golf courses. Eagle’s Nest Storage is in the heart of a residential area filled primarily with single family homes. There are approximately 73,000 people living within a three-mile radius and the area is projected to grow by almost 10 percent in the next five years. Eagle’s Nest Storage capitalizes on daily traffic counts of around 18,000. The property has around 750 feet of frontage on Will Clayton Parkway which is a primary east/west residential thoroughfare in Atascocita connecting the area to I-69 and the entrance to George Bush Intercontinental Airport.

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