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 US Storage Centers (Managed), a 85,215 square foot storage facility located in Richmond, 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 partnership. “We had a Cinco Ranch area location on a freeway and a great quality asset so it’s no wonder there was strong interest, and it was almost exclusively from the REITs,” said Knobler. “There was also a historical element to the sale as one of the members of the selling entity was a direct descendant of the original Cinco Ranch ownership group.”
“We had a Cinco Ranch area location on a freeway and a great quality asset so it’s no wonder there was strong interest, and it was almost exclusively from the REITs. There was also a historical element to the sale as one of the members of the selling entity was a direct descendant of the original Cinco Ranch ownership group.”
US Storage Centers (Managed) features a total of 752 units composed of 641 climate-controlled units (61,425 net rentable square feet), 100 drive-up non-climate units (18,400 net rentable square feet) and 11 covered parking spaces (5,390 net rentable square feet). The property sits on approximately 3.32 acres of land and has 1 two story building, 1 single story building and one canopy parking structure. The property was constructed in 2018 and has an attractive block façade along with many amenities commonly found in Class “A” self-storage facilities. There are multiple gated entrances with digital keypad access, a spacious on-site management office, video surveillance throughout the facility, hallway lights on motion sensors, and concrete driveways to name a few. US Storage Centers (Managed) sits in a high demographic densely populated and growing area of Houston with over 92,000 people living within a three-mile radius of the facility. The average household income is nearly $150,000 and the facility serves numerous affluent well known Fort Bend and Harris County areas.
