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 Aransas Pass Storage, a 181,210 square foot storage facility located in Ingleside, 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, brokered the transaction of the property on behalf of both the Seller and Buyer. “Corpus Christi’s growth is no secret, but we’re seeing excitement throughout the Coastal Bend and that’s reflected by the groups with a national presence that are investing in the area,” said Knobler. “The managing partner for the Seller was based in Greater Houston so this transaction took some management responsibilities off of their plate and at the same time gave the Buyer an expanded presence in the Coastal Bend.” The Buyer was national self-storage owner, Merit Hill Capital, based in New York and this transaction marked their 200th acquisition.
“Corpus Christi’s growth is no secret, but we’re seeing excitement throughout the Coastal Bend and that’s reflected by the groups with a national presence that are investing in the area.”
Aransas Pass Storage is a mix of 127 climate-control units and 375 non-climate spaces and is located approximately 15 miles northeast of downtown Corpus Christi. The average household income within a 3-mile radius of the property is $76,795 and the asset has frontage on TX Highway 361 with daily traffic counts of around 6,000.