Marcus & Millichap Inc.
08/15/2024 | Press release | Archived content
Marcus & Millichap Arranges Sale of 483-Unit Inez Storage Portfolio in Inez Texas
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Marcus & Millichap Arranges Sale of 483-Unit Inez Storage Portfolio in Inez Texas
August 15, 2024
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INEZ, TX., August 15, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Inez Storage Portfolio, a two-property and 102,610 square foot storage asset located in Inez, Texas.
Dave Knobler, senior managing director investments, and Mixson Staffel, investment associate, in Marcus & Millichap's Houston office, along with Charles "Chico" LeClaire, executive managing director investments in the firm's Denver office, marketed the property on behalf of the seller. "Long before I decided to sell my facilities, I knew who I would be calling because of the reputation and professionalism of Marcus & Millichap. They were able to find a buyer in a tough market. The sale was made in a timely and professional manner, and I would highly recommend them," said the seller, Mark James. "A quality asset brought quality buyers," said Knobler. "Despite the rural location, we received several competitive offers from buyers around the country." The buyer was a California-based family trust.
The Inez Storage Portfolio consists of Inez Storage and Beck Road Storage, with the two locations approximately 4.5 miles apart. The properties sit on a combined 11.17 acres of land and include 10 single-story buildings with a total of 483 units. The unit mix features 214 climate-controlled units, 258 drive-up non-climate spaces, and 10 covered parking spaces. The facilities offer numerous amenities, including video surveillance, gated entrances with digital key-code access, roll-up doors, and a full-service onsite manager's office.
Dave Knobler, senior managing director investments, and Mixson Staffel, investment associate, in Marcus & Millichap's Houston office, along with Charles "Chico" LeClaire, executive managing director investments in the firm's Denver office, marketed the property on behalf of the seller. "Long before I decided to sell my facilities, I knew who I would be calling because of the reputation and professionalism of Marcus & Millichap. They were able to find a buyer in a tough market. The sale was made in a timely and professional manner, and I would highly recommend them," said the seller, Mark James. "A quality asset brought quality buyers," said Knobler. "Despite the rural location, we received several competitive offers from buyers around the country." The buyer was a California-based family trust.
The Inez Storage Portfolio consists of Inez Storage and Beck Road Storage, with the two locations approximately 4.5 miles apart. The properties sit on a combined 11.17 acres of land and include 10 single-story buildings with a total of 483 units. The unit mix features 214 climate-controlled units, 258 drive-up non-climate spaces, and 10 covered parking spaces. The facilities offer numerous amenities, including video surveillance, gated entrances with digital key-code access, roll-up doors, and a full-service onsite manager's office.
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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.