Marcus & Millichap : Arranges the Sale of a 56,600 Square Foot Self-Storage Facility
July 26, 2023 at 02:07 pm EDT
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Marcus & Millichap Arranges the Sale of a 56,600 Square Foot Self-Storage Facility
July 25, 2023
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FREEPORT, TX, July 25, 2023 - 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 Blue Water Self Storage, a 56,600 square foot self-storage facility located in Freeport, Texas, according to Ford Noe, Regional Manager of the firm's Houston office.
Dave Knobler, Senior Managing Director Investments in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a local limited partnership. The buyer, a New York based limited liability company, was secured and represented by Knobler.
"This asset may not check the demographic boxes that the market typically looks for, but if you've ever been near the facility on a weekend, you'll notice the Surfside Beach area tourism is through the roof" said Knobler. "Knowing the sub-market on a micro level and knowing a buyer that was doing well with another nearby asset led to a successful closing."
Blue Water Self Storage is located at 1932 FM 523 in Freeport, Texas. The property sits on approximately 8.17 acres of land, was constructed in 1999, and has seven single story buildings consisting of 295 units. Blue Water Self Storage has many amenities including a gated entry with a digital keypad, an on-site management office, security lighting, concrete and gravel driveways, and units with roll up doors.
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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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 25 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2023 18:04:59 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
