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 Airline Storage, a 48,775 square foot storage property located in Victoria, Texas.
Mixson Staffel, Investment Associate, and Dave Knobler, Senior Managing Director Investments, in Marcus & Millichap’s Houston, Texas office, along with Charles “Chico” LeClaire, Executive Managing Director Investments in the Denver, Colorado office, marketed the property on behalf of the seller, a Texas-based LLC. “This transaction was a clear reminder of the power of a competitive bidding process,” said Staffel. “We had twelve offers by the call for offers date which resulted in a best and final round. We not only achieved top of the market pricing, but we selected the buyer based on their willingness to visit the property and get fully comfortable before they were awarded the deal, ensuring a smooth transaction from start to finish.” The buyer is a Pennsylvania-based LLC.
“We had twelve offers by the call for offers date which resulted in a best and final round. We not only achieved top of the market pricing, but we selected the buyer based on their willingness to visit the property and get fully comfortable before they were awarded the deal, ensuring a smooth transaction from start to finish.”
Airline Storage consists of six single-story buildings containing 172 climate-controlled units and 205 drive-up non-climate-controlled units. The facility sits on approximately 5.79 acres of land, of which roughly 2.5 acres are undeveloped. Airline Storage has many amenities commonly found in Class A self-storage facilities including an onsite managers office, concrete drives, roll-up doors, chain-link fencing with digital keycode access gate, and 24/7 video surveillance throughout the property.