BRYAN, TX | Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Brazos Moving & Storage CofO, a 64,290-square foot self-storage facility located in Bryan, TX, according to Ford Noe, Regional Manager of the firm’s Houston office.
Dave Knobler, Senior 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, Cody Hall who is a College Station based developer. “The transaction was a win-win-win” said Hall. “I was pleased with the outcome, Dave and Chico did a great job establishing the market, and the Buyer is getting a great property, probably my best one yet.” The buyer, a limited liability company, was also secured by Charles “Chico” LeClaire and Dave Knobler. “The quality depth of the buyer pool for a CofO asset was what stood out to me” said Knobler. But it’s not surprising given the excellent potential for the asset. This is the 3rd either CofO or early lease up transaction in Bryan-College Station I’ve sold for Cody in the past 5 years and I would concur that the competition was more fierce than the previous 2.”
“I was pleased with the outcome, Dave and Chico did a great job establishing the market, and the Buyer is getting a great property, probably my best one yet.”
Brazos Moving and Storage CofO features around 1000 feet of frontage on N. Harvey Mitchell Parkway (FM 2818) which serves as an unofficial loop for the Bryan-College Station region. It connects northwest Bryan to southeast College Station with junctions at State Highway 6 on both ends and approximately 22,000 vehicles pass by the facility daily. Additionally, Brazos Moving and Storage CofO is approximately ¼ mile south of West Villa Maria Road which is another busy street that traverses Bryan and sees traffic counts of around 28,000. There are numerous drivers that should make Brazos Moving and Storage CofO a successful location for a self-storage facility. The property is about ½ mile from the Wal-Mart anchored Rudder’s Landing shopping center where continued growth is taking place with several new retailers staking their claim to this part of the Brazos Valley. Notably there is a new Chic-Fil-A that is opening in summer of 2021. The facility is within 3 miles of Texas A&M University which at around 70,000 students is the 2nd largest university in the nation. Brazos Moving and Storage CofO is also situated within 3 miles of the Bio Medical corridor which features the Texas A&M University Health Science Center, the Stella Hotel which was the 3rd ranked hotel in Texas by Cond Nast Traveler, and the FUJIFILM pharmaceutical manufacturing center. A couple of miles to the east of Brazos Moving & Storage CofO is the soon to be complete Travis Bryan Midtown Park which will become a primary entertainment district for the area. The property is close to the Traditions neighborhood which is an affluent golf course community along with multiple new single-family neighborhoods and multi-family projects under construction.
The trade area has not seen a new storage facility constructed since 2005 and Yardi Matrix estimates that upon completion of Phase I, Brazos Moving and Storage CofO will bring the per capita self-storage to 6.63 square feet. This statistic was not lost on the seller who is a local developer and has built and sold three other successful storage projects in the past decade and a half and thinks this is his best location yet. Brazos Moving and Storage CofO allows an investor to acquire a new self-storage asset in an under-supplied and thriving area of Bryan-College Station. The facility is also in an Opportunity Zone where the population is over 62,000 within 3 miles, and the average household income is over $108,000.
Brazos Moving & Storage CofO is located at 425 North Harvey Mitchell Parkway in Bryan, Texas.