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 StorQuest (Managed) Self Storage, a 70,110 square foot storage facility located in Tomball, a northwest suburb of Houston, 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 family trust. “We set out to run a full process with a 30 day call for offers date, but after procuring multiple persuasive offers within the first week of being on the market the Seller elected to accept an offer from a Buyer we felt provided a high certainty of close,” said Knobler. “It’s certainly understandable why there would be so much interest, the location was top notch, sitting across the street from a Walmart Supercenter and very close to the intersection of 249 and Spring Cypress.” The Buyer was a California-based corporation.
“We set out to run a full process with a 30 day call for offers date, but after procuring multiple compelling offers within the first week of being on the market the Seller elected to accept an offer from a Buyer we felt provided a high certainty of close.”
The property sits on approximately 5.49 acres of land and has 2 single story buildings. There is a total of 597 units composed of 272 climate-controlled units (26,215 net rentable square feet), 254 non-climate units (43,895 net rentable square feet) and 71 outdoor parking spaces. The property was constructed in 1998 and has an attractive block façade along with many amenities commonly found in Class “A” self-storage facilities. There is a gated entry with a digital keypad, a spacious on-site management office, a manager’s residence, video surveillance throughout the facility, and concrete driveways. StorQuest Self Storage (Managed) sits in a densely populated and growing area of Houston with around 100,000 people living within a three-mile radius of the facility.
