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 S&D Storage Portfolio, a 48,871 net rentable square foot and two property storage portfolio located in Point Blank, Texas.
Dave Knobler, Senior Managing Director Investments in Marcus & Millichap’s Houston, Texas office, and Charles “Chico” LeClaire, Executive Managing Director Investments in the Denver, Colorado office, had the exclusive listing to market the portfolio on behalf of the Seller. “The well maintained family-owned asset has a lot of potential for the new owner,” said Knobler. “It was already highly occupied, but applying more sophisticated management strategies should allow the operation to improve considerably especially given the underlying support of The Lake Livingston area which is seeing its fair share of growth.” The Buyer was also secured by Knobler and LeClaire.
“The well maintained family-owned asset has a lot of potential for the new owner. It was already highly occupied, but applying more sophisticated management strategies should allow the operation to improve considerably especially given the underlying support of The Lake Livingston area which is seeing its fair share of growth.”
The S&D Storage Portfolio features two properties located approximately three miles apart in Point Blank, Texas. The properties sit on a combined 7.59 acres with nine single-story buildings consisting of 97 climate-controlled spaces (15,767 NRSF), 103 drive-up non-climate storage units (33,104 NRSF) and 29 outdoor parking spaces. The facility on US Highway 190 was originally built in 2019 and there is a brand new 2,631 square foot building included in the unit mix that is scheduled to open in the summer of 2023. The property on Boat Launch Road was built in 2004. The properties both feature concrete driveways, roll-up doors, perimeter chain-link fencing, video surveillance and on-site manager’s offices.
