Marcus & Millichap Brokers 769 Unit Self Storage Property in North Dallas Suburb

ALLEN, Texas, Oct. 28, 2024 - 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 Extra Space Storage, a 769-unit self-storage facility in Allen, Texas.

"My client was looking for an institutional-quality asset in North Texas, and we were able to deliver a newer property with little to no deferred maintenance at closing," said Jon Danklefs, first vice president investments in Marcus & Millichap's San Antonio office. "The property benefits from great visibility behind a successful convenience store and has stabilized physical occupancy. Extra Space Storage will remain as third-party manager for the new owner." Danklefs represented the private buyer in the transaction.

Built in 2019, the 80,421-square-foot facility is located at 820 S. Greenville Ave., at the signalized intersection of Bethany Drive and South Greenville Avenue. The three-story property includes 769 fully climate-controlled units and has maintained historically high occupancy levels.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.