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 I-40 RV Storage, a 199,905 square foot storage asset located in Amarillo, Texas.

Mixson Staffel, Associate Director Investments, and Dave Knobler, Senior Managing 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 local individual.  Mixson Staffel had this to say about the deal, “The seller had owned the property for many years but, for various reasons, had been unable to manage it effectively in recent years. Despite the significant occupancy challenges, we secured an out-of-state buyer who recognized the property’s substantial upside potential.” The buyer was a Michigan-based self-storage investment group.

“The seller had owned the property for many years but, for various reasons, had been unable to manage it effectively in recent years. Despite the significant occupancy challenges, we secured an out-of-state buyer who recognized the property’s substantial upside potential.”

I-40 RV Storage is a 396-unit storage facility located in Amarillo, Texas. There are 353 covered parking spaces, eight enclosed spaces, 10 open parking spaces, and 25 self-storage units. The facility sits on roughly 11.5 acres, of which roughly 1.9 acres are undeveloped. The property consists of nine canopy buildings, one single-story drive-up self-storage building, and was initially constructed in 2003. Amenities found at this facility include an onsite management office, a two-story employee apartment, and a gated entry.

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