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 DRD Mini Storage Portfolio, a 58,760 net rentable square foot and two property storage portfolio located in Kingfisher, Oklahoma.
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 portfolio on behalf of the Seller, a Nevada limited liability company. “Despite the tertiary setting, we obtained multiple offers for the assets,” said Knobler. “Having the ability to get self-storage REIT property management opened the door to larger groups that don’t have their own management platform.” The Buyer, a Delaware limited liability company, was also secured by Knobler and LeClaire. Steve Greer, Associate Regional Manager in the firm’s Baton Rouge office, served as the Oklahoma broker of record.
“Despite the tertiary setting, we obtained multiple offers for the assets. Having the ability to get self-storage REIT property management opened the door to larger groups that don’t have their own management platform.”
DRD Mini Storage Portfolio is comprised of two facilities that are approximately 1.25 miles from one another, both on Main Street where traffic counts are around 11,000. The South facility has a full-service managers office, gated entry with keycode access, and is located amongst national retailers such as Sonic and Napa Auto Parts. Kingfisher is about a 30-minute drive from Oklahoma City, the county seat of Kingfisher County, and the birthplace of Walmart Founder Sam Walton.