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 AA Storage, a 49,539 net rentable square foot storage facility located in Houston, Texas.
Dave Knobler, Senior Managing Director Investments in Marcus & Millichap’s Houston, Texas office, and Charles “Chico” LeClaire, Executive Managing Director Investments in the Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller. “This property was stabilized before suffering a fire that wiped out a building two years ago and was just beginning to re-lease,” said Knobler. “We came up with creative solutions to get the ball across the goal line and provide an effective result for the Seller.” The Buyer was also secured by Knobler and LeClaire.
“This property was stabilized before suffering a fire that wiped out a building two years ago and was just beginning to re-lease. We came up with creative solutions to get the ball across the goal line and provide an effective result for the Seller.”
AA Storage at Ruland Road is located in the Spring Valley Village area of Houston, Texas which is an affluent suburb less than ten miles west of downtown. The property is on approximately 2.3 acres with five metal framed single story buildings consisting of 112 climate control units, 143 drive-up non-climate storage units, and seven office spaces. The facility was originally built in 1971 but has gone through various renovations over the years. A vast assortment of upgrades throughout the property have been made since ownership purchased the property in 2017. The facility has many amenities including but not limited to roll up doors, concrete driveways, and a full-service on-site manager’s office.