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 Midland Lock Storage, a 70,602 square foot storage facility located in Midland, Texas.
Dave Knobler, Senior Managing Director Investments in Marcus & Millichap’s Houston, Texas office and Jordan Farrer, Vice President Investments in Marcus & Millichap’s Salt Lake City, Utah office, had the exclusive listing to market the property on behalf of the Seller, a Utah-based LLC. “The properties were close to downtown Midland and gives the operator good scale in an area brimming with positivity as oil and gas production is seeing record highs,” said Knobler. The Buyer, a Minnesota-based LLC, was also secured by Knobler and Farrer. This was Knobler’s third closing in the Midland-Odessa region since June. He also sold Odessa Storage Center to an individual operator and Advanced A-1 Self Storage in Odessa in August to a publicly traded REIT.
“This was Knobler’s third closing in the Midland-Odessa region since June. He also sold Odessa Storage Center to an individual operator and Advanced A-1 Self Storage in Odessa in August to a publicly-traded REIT.”
The Midland Lock Storage facility features 395 non-climate units, one office space, and 30 outdoor parking spaces. There are two stores located approximately three quarters of a mile from each other. The facility located at 3013 W. Industrial Avenue sits on two parcels that total up to approximately 2.86 acres. The facility at 2215 W. Florida Avenue has three parcels that sits on approximately 2.27 acres.