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 Texas City Two Property Portfolio, a 36,900-square foot self-storage portfolio located in Texas City, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Dave Knobler, First Vice President Investments in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. “The seller was ready to exit these assets due to the management intensive aspect the property required” said Knobler. The seller had performed some recent upgrades, but there’s still some work for the buyer to complete to better compete in the market.” The buyer, a Houston based private investor, was also secured by Dave Knobler.

Texas City Two Property Portfolio is located at 1724 Texas Avenue and 2424 Texas Avenue in Texas City, 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.