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 Big Spring Lock Storage, a 94,320 square foot storage asset located in Big Spring, Texas.

Dave Knobler, Senior Managing Director Investments, in Marcus & Millichap’s Houston, Texas office, along with Jordan Farrer, Senior Director Investments, in the firm’s Salt Lake City office and Charles “Chico” LeClaire, Executive Managing Director Investments, in the Denver, Colorado office, marketed the property on behalf of the seller, a Utah-based LLC.  Dave Knobler had this to say about the transaction, “The trade was a perfect match. The facility was the seller’s only asset in this region and they’re now able to focus on projects that better fit their business model. Conversely, the buyer had recently put another self-storage property in West Texas under contract when I approached them about the Big Spring Lock opportunity and they decided to capitalize on additional scale.” The buyer is a Texas-based LLC.

“The trade was a perfect match. The facility was the seller’s only asset in this region and they’re now able to focus on projects that better fit their business model. Conversely, the buyer had recently put another self-storage property in West Texas under contract when I approached them about the Big Spring Lock opportunity and they decided to capitalize on additional scale.”

Big Spring Lock Storage includes 481 non-climate units, one office space, two warehouse spaces and 26 outdoor parking spaces. The main facility is located at 3301 FM 700 and sits on five parcels that total up to approximately 9.08 acres. The annex facility sits on 1.84 acres and is located at 1300 East 4th Street, approximately one and a half miles away. The facility features amenities including, but not limited to, video surveillance throughout the property, an automated security gate with keycode access, roll-up doors, asphalt driveways, and a manager’s office.