Marcus & Millichap Inc.
11/26/2024 | Press release | Distributed by Public on 11/26/2024 13:23
Marcus & Millichap Brokers Sale of 396 Unit Self Storage Facility in San Antonio
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Marcus & Millichap Brokers Sale of 396-Unit Self-Storage Facility in San Antonio
November 26, 2024
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SAN ANTONIO, Texas, Nov. 21, 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 a 396-unit self-storage property in San Antonio, Texas.
"This facility is situated in a strong San Antonio submarket, where average household incomes exceed $140,000 annually," said Jon Danklefs, first vice president of investments. "Additionally, there are no new projects in the development pipeline in the immediate trade area, allowing the new owners to further increase their rent per square foot."
Danklefs exclusively marketed the property on behalf of the seller and procured the buyer. Extra Space Storage will be the third-party manager for the new owner.
The property, located at 16523 Huebner Road, includes 48,050 square feet across 396 non-climate-controlled units ranging from 25 to 300 square feet, along with one apartment unit. The single-story property, built in 1998, sits on 2.5 acres and features a state-of-the-art surveillance system, gated entry, and personalized keypad access.
"This facility is situated in a strong San Antonio submarket, where average household incomes exceed $140,000 annually," said Jon Danklefs, first vice president of investments. "Additionally, there are no new projects in the development pipeline in the immediate trade area, allowing the new owners to further increase their rent per square foot."
Danklefs exclusively marketed the property on behalf of the seller and procured the buyer. Extra Space Storage will be the third-party manager for the new owner.
The property, located at 16523 Huebner Road, includes 48,050 square feet across 396 non-climate-controlled units ranging from 25 to 300 square feet, along with one apartment unit. The single-story property, built in 1998, sits on 2.5 acres and features a state-of-the-art surveillance system, gated entry, and personalized keypad access.
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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.