HOUSTON, Texas | 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 HP Storage, a 59,935 square foot storage asset located in Houston, Texas.
Dave Knobler, Senior Managing Director Investments, and Mixson Staffel, 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 company and the original property developer. Dave Knobler had this to say about the transaction, “No website, no advertising, no management software. To call the facility historically undermanaged would be an understatement. Demand for well‑located cash flowing assets continues to outperform expectations. This property, positioned directly on a major freeway, attracted significant investor interest. We received multiple competitive offers within a short window, underscoring the strength of the location and the upside buyers recognized.” The buyer, also procured by Knobler, Staffel and LeClaire, is a New York-based LLC.
“No website, no advertising, no management software. To call the facility historically undermanaged would be an understatement. Demand for well‑located cash flowing assets continues to outperform expectations. This property, positioned directly on a major freeway, attracted significant investor interest. We received multiple competitive offers within a short window, underscoring the strength of the location and the upside buyers recognized.”
HP Storage is a 314-unit self-storage facility located in Houston, Texas. The facility is located on approximately 4.53 acres with five metal framed single-story buildings and one three-story building. The unit mix consists of traditional climate control units on the first and second floors of the multi-story building and flex office/storage units on the third story. The ground floor also contains six flex retail/office spaces. There are 90 drive-up non-climate storage units and 17 container storage units along with covered and uncovered parking. The facility was originally built in 2016, and a second phase was added in 2019. The facility has many amenities including but not limited to a loading dock, digital keypad entry, roll up doors, asphalt and concrete driveways, an elevator and perimeter wrought iron fencing.
