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 a five-property self-storage portfolio located approximately 40 miles west of downtown Houston in Pattison, Brookshire, Hockley and Waller, Texas.
Dave Knobler, Senior Managing Director Investments, along with Mixson Staffel, Associate Director Investments, and Charles “Chico” LeClaire, Executive Managing Director Investments, represented the seller in the transaction. “This portfolio sits right in the path of one of the strongest growth corridors we track in the Houston market,” said Dave Knobler, Senior Managing Director Investments. “With Tesla, Amazon, Costco and HEB all expanding nearby and more than 20 residential communities under development in the trade area, self-managed, out-of-area ownership had simply outgrown the opportunity in front of it. Attractive seller-financing terms and more than 12 acres of expansion land helped bring in a buyer ready to take the platform to its next level.”
“This portfolio sits right in the path of one of the strongest growth corridors we track in the Houston market. With Tesla, Amazon, Costco and HEB all expanding nearby and more than 20 residential communities under development in the trade area, self-managed, out-of-area ownership had simply outgrown the opportunity in front of it. Attractive seller-financing terms and more than 12 acres of expansion land helped bring in a buyer ready to take the platform to its next level.”
The portfolio totals 1,042 units and 148,745 net rentable square feet across five self-storage facilities: Royal Storage of Brookshire (347 units, 42,945 NRSF), Royal Storage of Pattison (151 units, 19,575 NRSF), Waller Storage Center (371 units, 46,875 NRSF), Waller Boat & RV Storage (60 units, 26,400 NRSF), and Hockley Storage Center (113 units, 12,950 NRSF). The unit mix includes 675 non-climate-controlled units, 205 climate-controlled units, 156 outdoor parking spaces, two apartments, two office/warehouse spaces, one covered parking space, and one mobile home.
