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 CubeSmart (Managed) Self Storage, a two property self storage portfolio located in Texarkana, Texas. The asset has 571 units and 85,656 net rentable square feet.

Dave Knobler, First 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 the behalf of the Seller, a Florida based LLC. “COVID-19 made things a little tricky,” said Knobler. “Travel restrictions prohibited the California based Buyer from physically being able to see the property, but they were able to get comfortable with the asset by using local inspectors and a virtual tour.” Knobler continued. “We were able to send over 10 minutes of raw video of the property. Otherwise things went smoothly as the lender, title company, and other 3rd party inspectors all went through their processes in a timely fashion.”

The CubeSmart (Managed) Self Storage portfolio has locations at 927 North Robison Road and 241 Forest Lake Drive in Texarkana.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.