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, announced the sale of the Devon (Managed) Four-Property Houston Portfolio, a four-property self-storage portfolio located across the Houston metro.

Charles “Chico” LeClaire, Executive Managing Director Investments, Adam Schlosser, Executive Managing Director Investments, and Dave Knobler, Senior Managing Director Investments, of the LeClaire-Schlosser Group represented the seller in the transaction.

“This portfolio gives the buyer a foothold in four of Houston’s most heavily trafficked corridors in one transaction — from more than 190,000 vehicles a day at West 43rd and Highway 290 to dense, established trade areas at Veterans Memorial, Bissonnet, and Gessner,” said Adam Schlosser. “With the portfolio running at roughly 76 percent occupancy, there’s real upside for an operator who can lean into lease-up across all four sites.”

“This portfolio gives the buyer a foothold in four of Houston’s most heavily trafficked corridors in one transaction — from more than 190,000 vehicles a day at West 43rd and Highway 290 to dense, established trade areas at Veterans Memorial, Bissonnet, and Gessner. With the portfolio running at roughly 76 percent occupancy, there’s real upside for an operator who can lean into lease-up across all four sites.”

The portfolio comprises four self-storage facilities at 9840 Bissonnet Street, 13800 Veterans Memorial Drive, 1918 Gessner Road, and 6300 West 43rd Street, all in Houston. The properties total 1,779 units and approximately 259,250 net rentable square feet, consisting primarily of drive-up, non-climate units with supplemental outdoor vehicle parking; the Gessner Road property also includes approximately 35,000 net rentable square feet of enclosed boat and RV storage.