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 Karam Self Storage, a 47,080 square foot storage facility located in Galveston, Texas.
Dave Knobler, Senior Vice President Investments in Marcus & Millichap’s Houston, Texas office and Charles “Chico” LeClaire, Executive Managing Director Investments in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a Texas-based LLC. “Being close to The Historic Strand, downtown, and the cruise terminals in a transforming area of Galveston made this interesting real estate to begin with,” said Knobler. “It also was one of the more imaginative conversions that I’ve come across since it was formerly a brewery (Falstaff Beer) that was built in the early 1900s.”
“Being close to The Historic Strand, downtown, and the cruise terminals in a transforming area of Galveston made this interesting real estate to begin with. It also was one of the more imaginative conversions that I’ve come across since it was formerly a brewery (Falstaff Beer) that was built in the early 1900s.”
Karam Self Storage consists of 439 climate-controlled units totaling 47,080 NRSF and Events @ The Tasting Room which is an elegant wedding and event venue on the top floor of the property that’s approximately 13,000 square feet. The asset was originally the historic Fallstaff Brewery built in 1905 and is a nationally recognized historic building and was converted to a storage facility in October of 2019. The property sits on an approximately 0.724-acre parcel. Karam Self Storage features numerous amenities found in modern institutional quality storage facilities including, but not limited to a full-service manager’s office and showroom, video surveillance cameras throughout the property, motion sensor hallway lighting, and multiple personalized key-pad entrances. The building is of substantial concrete construction having withstood the numerous Gulf Coast storms over the years and the first floor is approximately eight feet above the ground level.