Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Sierra Ranch Storage, 15,050 net rentable-square foot self-storage that consists of 100 percent climate control units located in Houston, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.
Dave Knobler, First Vice President Investments and Casey Kral, Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. “Despite the pandemic I conducted 4 in person, but socially distanced showings and had multiple offers within the first week of launching the facility on the market” said Knobler. “It was the first listing I marketed in the Coronavirus era but gave an early indication that buyers appetites hadn’t waned in the COVID-19 environment”. The buyer, a limited liability company, was secured by Dave Knobler and Casey Kral. The two-story property was constructed in 2017 and offers several state-of-the-art amenities typically found in class A self-storage facilities including individualized security passcode access, video surveillance throughout the property, a self-service kiosk, remote door locks, and door alarms.
Sierra Ranch Storage is located at 8720 Sierra Ranch Drive in Houston, Texas.
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.
