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 Alta Vista Storage, a 34,100 square foot storage facility located in League City, Texas.
Dave Knobler, Senior 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 Galveston County-based partnership. “There was significant interest from local investment groups. Ultimately a large New York-based firm won the opportunity, but not without a fight,” said Knobler. “At under 35,000 net rentable, it was a bit smaller than what this level of the market typically wants, but the asset quality, stability and future growth added up to a terrific transaction.”
“There was significant interest from local investment groups. Ultimately a large New York-based firm won the opportunity, but not without a fight.”
The property sits on approximately 8.4 acres of land and has two single story self-storage buildings containing 358 climate control units. There are also 16 concrete outdoor parking spaces counted in the unit mix. Included in the acreage is 3.7 acres of usable, undeveloped land that already has detention in place for the entire property. The property has an attractive facade along with many amenities commonly found in Class “A” self-storage facilities. There is a vertical pivot gated entry with a digital keypad, a full-service on-site management office, 24/7 video surveillance throughout the facility, concrete driveways, and units with roll up doors.