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 Magnolia Parkway Storage, a 44,933 square foot storage facility located in Magnolia, Texas, a northwest Houston suburb.
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 family partnership. “The Aggie Expressway has really opened up the far northwest corridor of town and with so much single-family development underway, Magnolia is booming as much as anywhere in Greater Houston,” said Knobler. “The area is combining with Tomball to the south and The Woodlands to the east to make a Golden Triangle of sorts for the northwest quadrant of the region.”
“The Aggie Expressway has really opened up the far northwest corridor of town and with so much single-family development underway, Magnolia is booming as much as anywhere in Greater Houston. The area is combining with Tomball to the south and The Woodlands to the east to make a Golden Triangle of sorts for the northwest quadrant of the region.”
The property sits on approximately 5.28 acres of land and has 4 single story self-storage buildings. There is also a full-service managers office with office warehouse spaces that has a decorative 2nd story at the front of the asset. There is a 197-unit expansion which has been architecturally engineered and ready for permitting that will increase the total NRSF to 69,365. There is currently a total of 290 units composed of 210 climate controlled units (27,125 net rentable square feet), 77 non-climate units (14,305 net rentable square feet) and 3 office warehouse spaces. The property has an attractive brick façade along with many amenities commonly found in Class “A” self-storage facilities. There is a gated entry with a digital keypad, a full-service on-site management office, covered loading areas, 24/7 video surveillance throughout the facility, concrete driveways, and units with roll up doors.
