MARCUS & MILLICHAP, INC.

(MMI)
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Delayed Nyse  -  04:00 2022-08-10 pm EDT
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Marcus & Millichap : Arranges The Sale Of A Storage Facility In A Booming Texas Suburb

06/24/2022 | 05:46pm EDT
Press Releases
Marcus & Millichap Arranges The Sale Of A Storage Facility In A Booming Texas Suburb
June 24, 2022
NEW BRAUNFELS, TEXAS, June 24, 2022 - 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 Brauntex Storage, a 194-unit self-storage facility situated on 2.54 acres located in New Braunfels, Texas, according to Ford Noe, Regional Manager of the firm's Houston office.

Dave Knobler and Jon Danklefs, investment specialists in Marcus & Millichap's Houston and San Antonio offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a New York based company with self-storage facilities across the country, was procured by Knobler and Danklefs.

"The property location in the heart of New Braunfels was very attractive, and we were able generate several offers for the property" said Knobler. "Ultimately a group with a national presence won the deal, but there were several local investment groups that recognized the opportunity as well."

"Our national platform helps us generate interest from buyers nationwide and our local presence and market knowledge gives us the ability to share rental rate and occupancy trends to potential buyers," said Danklefs. "At the end of the day, both seller and buyer benefit in a successful transaction."

The population in New Braunfels grew 56 percent from 2010-2019 which ranks it as the 3rd fastest growing city in the country and is expected to grow nearly 25 percent over the next five years. New Braunfels currently accounts for approximately 1/3 of the growth in Greater San Antonio and there are numerous new neighborhoods under development within three miles of the facility. The average household income is nearly $100,000 within three miles of the facility. The area's proximity in between Greater San Antonio and Austin makes it an ideal area for commuters, but the city also has several economic drivers of its own. Industries such as aviation, healthcare, logistics/distribution, manufacturing, retail, specialty foods, and telecom/information drive the New Braunfels economy. The area is best known however for its thriving tourist attractions. Schlitterbahn which several publications annually rate as one of the nation's top waterparks employs 2,300 people. Additionally, thousands of visitors float the Comal and Guadalupe rivers annually and fishing and boating are popular activities at neighboring Canyon Lake.

Brauntex Storage is located at 726 North Walnut Avenue in New Braunfels, Texas.

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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

Disclaimer

Marcus & Millichap Inc. published this content on 24 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2022 21:45:01 UTC.


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Financials (USD)
Sales 2022 1 491 M - -
Net income 2022 158 M - -
Net Debt 2022 - - -
P/E ratio 2022 10,1x
Yield 2022 3,80%
Capitalization 1 576 M 1 576 M -
Capi. / Sales 2022 1,06x
Capi. / Sales 2023 0,93x
Nbr of Employees 801
Free-Float 96,7%
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Hessam Nadji President, Chief Executive Officer & Director
Steven F. Degennaro Chief Financial Officer & Executive Vice President
George M. Marcus Chairman
Ken Sayward Chief Information Officer & Vice President
Tyler Theobald Chief Compliance Officer, VP & General Counsel
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